Random Thoughts: Trying to Stem the Crimson Tide

By Todd Harrison  MAY 06, 2010 1:40 PM

Tensions rise as calmer heads attempt to prevail.

 


“Mr. Hunter, we have rules that are not open to interpretation, personal intuition, gut feelings, hairs on the back of your neck, little devils or angels sitting on your shoulder. We're all very well aware of what our orders are and what those orders mean. They come down from our Commander in Chief. They contain no ambiguity.”
- Capt. Frank Ramsey, Crimson Tide

When I was a child, my mother used to tell me, "When it's on your lung, it's on your tongue." I suppose that was her way of saying I wore my heart on my sleeve, that when I felt something, it was self-evident by the expression on my face or the words that came out of my mouth. That continues to this day and it's both a blessing and a curse.

As Old School Minyans can attest, I "put it out there" and share my fare for those who care. I bring this up now as I've experienced a particular "heaviness" of late. I'm unsure what precisely that means, but I've learned to trust my gut through the years for when I haven't, I've paid a steep price.

Capt. Ramsey was right; we have trading rules and guidelines for risk management that aren’t open to interpretation, personal intuition, gut feelings, hairs on the back of our neck or little devils and angels sitting on our shoulders. Still, I would be remiss if I didn't share this sharp sense with our community. If nothing else, honest communication is at the core of who we are and what we do. It's how we roll in the 'Ville.

Perhaps this column will serve as a contrarian signal given the bovine backstop of S&P 1150 is upon us. Maybe there are other dynamics in play that I can't precisely qualify, clouding my judgment and confusing my antennae. Either way, I feel better knowing we're on the same page as we find our way through this freaky fray.

With that off my chest, I can get back to the business of the business at hand.

Some Random Thoughts, in no particular order:
 


R.P.

Position in S&P

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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