Random Thoughts: Saved by the Bell-Minyanville

Random Thoughts: Saved by the Bell

Todd Harrison Oct 13, 2008 4:02 pm


		Up ahead: Turnaround Tuesday

Editor's Note: The following was posted in real time on our premium Buzz & Banter. It's being shared here for the benefit of the Minyanville community. See also Salvation Lies Within, Unleash the Hounds, Character Witness, Is It Real? and Trading the Magic Beanstalk.

I'll tell ya, there were times last week when I coulda said "I haven't seen a beating like this since I put a banana in my pants and turned the monkey loose." It happens to the best of us and there's no hiding in the 'Ville, only forthright communication through good times and bad. In that vein, Professor Dispennette's earlier vibe was the definition of Minyanesque--sharing his missteps with hopes that you avoid them altogether. Noice work, Cookie.

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Udder things flickering around my crowded keppe? Glad you asked:

While I've actively danced around in my bull costume (I was a early getting dressed last week but aggressively and effectively traded select Snappers as we found our way), I'm gonna head home sans my metaphorical trading costume as Turnaround Tuestday looms.
Do I think we could see further lift? Sure--there are alotta Debbie Doubters out there which, coupled with motivated central banks around the world, keeps that upside window open.
And, of course, there's the performance anxiety we discussed on Friday.

Given that the sharpest rallies occur in the context of a bear market--not to mention I was lugging a fair amount of exposure into this--I'm content to again assume a more balanced posture and come to play each day.
After trading like a banshee today--both ways, mind you, as I bought back a slug of QLD to sell into the close--my book has snivlets of EEM, UNG, Weatherford (WFT) and Yahoo (YHOO) although, in the interest of complete honesty, I may well unwind it all after this historic day. Tomorrow, as they say, is promised to nobody.
Fare ye well into the bell and enjoy your Monday night, Minyans, you've surely earned it.

R.P.


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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@minyanville.com.

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