Just win, baby, and bring it home!
And the caravan is on it's way
I can hear the merry gypsies play
Mama Mama look at Emma Rose
She's a-playin with the radio
La, la, la, la...
Well, my friends, it's about that time and the critters just bum rushed my office in full Raider Nation gear. There's a gleam in their eye and as they ready themselves for the pilgrimage and I can't say I blame them-we've been waiting a long time for this. Even Hoofy, in his white #24 Charles Woodson jersey, is in a good mood today and that's been a rare treat of late! Before I join the Menagerie and prepare myself for the task ahead, I wanted to share some thoughts on the Minx and her moods.
It's been a streaky year thus far and, if we've learned anything, it's that we can't defer to the price action. The blind ambition trade (at the beginning of the month) sucked a lot of money into the upside vacuum and, when the trading community finally joined the party, it was already last call. The "inevitable" breakout never occurred and the trapped longs, after sliding down the slippery slope, turned and pressed the short side yesterday (ouch!). It's surely a frustrating environment but we've got no choice but grin, bear it and move forward with our lessons in tow.
There's a mixed bag of thoughts out there regarding the future direction of the Minx and, while we all have our opinions, it's important to always allow for a margin of error. I surely have my inclinations (ultimately lower), but I have no interest in betting the ranch on anything right now-it's simply too hard. My preferred style calls for catching high percentage moves when I see them and preserving my capital when I don't. I have to believe that, over time, the ability to exhibit discipline in the face of temptation will prove to be a valuable trait.
Regarding the near term, I'm going to (humbly) thank Hoofy for his time and remove my last leg from the metaphorical bull costume. We added our appendages yesterday and in my world, trades are made to be taken. I like the way the market toed the line and braved the vicious winds today but, after the recent meltage, that was to be expected at a point. My sense is that S&P 865 will ultimately be taken out (on the downside) and there needs to be more despair before a sustained rally can stick.
I'll be returning to my post on Tuesday and I'd be lying if I told you I wasn't looking forward to my home court. In the meantime, Snoop Tone will do his thing and, while you're reading the object of Daisy's desire, keep your eyes peeled for a special announcement in this space. Casey and I are overwhelmed by the tremendous volume and feedback we've gotten on the site and, while we've got the mojo, we wanna press the bet a little. What am I talking about? You'll see, cookie!
More importantly, don't let the stress ruin your day-let it be a catalyst for you to enjoy the good things in life. There's a tendency in this business to let the angst spiral out of control and, if you're not careful, it will consume you. Trust me, I've been there and it's not a fun place to be. Focus on what you need while not losing sight of what you have-you'll be much happier. Good luck tomorrow and enjoy the weekend. When Sunday comes, turn it all off, surround yourself with good friends and, always remember, the autumn wind is a Raider.
Have a peaceful night.
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 firstname.lastname@example.org.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
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