Answers I Really Wanna Know: The Revenge of Turnaround Tuesday?

Todd Harrison  Jul 28, 2009 9:45 am

Answers I Really Wanna Know: The Revenge of Turnaround Tuesday?
 
Will S&P 980 serve as resistance on our counter-trend session?
 

 


Speaking of which, did you see this post in real-time late yesterday on the Buzz & Banter?

Dauntage! - 3:35 PM

The storm clouds just rolled into Gotham. No kiddin'! My window—free and clear now that we've moved the critter backdrop to the downstairs studio—turned pitch-black justlikethat.

This has happened before and it preceded the same sorta storm in the market. Of course, that's a silly reason to trade and it's far from actionable.

It does, however, offer poetic license to communicate that the proximity of S&P 980 (
defined risk), coupled with the looming Turnaround Tuesday, in addition to the reaction (or lack thereof) to "good" news this morning, on top of overbought readings, in conjunction with Jeff “Coops DeVille” Cooper’s earlier vibage, was enough for me to dip a toe into some S&P short-side exposure.

Nothing crazy, but always honest.
 


R.P.

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Comments (4) See All Comments »
07-28-2009, 10:27 am
Yesterday, NVAX (and my preferred vehicle, VICL) were up on news the European FDA-equivalent is expediting approval on their swine flu vaccines; which is good for the shares, as their income from that product is nearer to fruition. But Europe's
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07-28-2009, 11:54 pm
Todd,

Thank you ever so much for the US Family Houses Sold graph!! If that chart does not drill reality into Hoffy's thick skull, HFT programs and manipulated markets notwithstanding, he deserves what he has coming.
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07-28-2009, 11:57 pm
When we have socialized medicine and Obamacare sending off the elderly to die with End of Life Counseling and a morphine drip on one hand, and a swine flu that will decimate our young ones with impunity (and therefore a sharp curtailment of births go
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07-29-2009, 12:35 am
What do we make of the 1.28 QUADRILLION nominal amount in global derivatives??!!!! (Hat Tip: Bank of International Settlements)

Financial WMDs indeed!
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Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@Stockssuccess.com.

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