Hey Toddo--how's that peg leg?
Is it me or do all these Presidential love fests seem scripted? I mean, would it really shock you if there was a red "applause" sign flashing above Dubya's head? Don't get me wrong--I'm proud to be an American and bleed red, white and blue--but just give us the facts, Jack. The pomp and circumstance dilutes the message and compromises the integrity of the process. Of course, this isn't a biggie--it's just always something that irked me at I wanted to get it off my chest.
Our chieftain duopoly has come and gone and Snoop Tone just pinged me that too many people are expecting a "sell on the news." It's a salient point (as always) and something to monitor as we find our way. The techs have felt "accumulative" all day and, while I'm hopping with one leg in the fur (25% on the short side), I know that discipline trumps conviction. I'm gonna stick with Boo as long as the BKX is under 800 and/or the internals start to improve (not confirming thus far). This schnitzel was a quick trade and the definition of an investment should never be a trade that hasn't worked.
As I write, I've seen some macro guys come in and scoop Nazz futures and, in the immortal words of Garth, it's game on! Also, in an amazing moment of clarity, Fokker just pointed out the traction in the brokers. That's good work, kid--fax me your thoughts and we'll discuss them later!
In all seriousness, I see what you guys see but do yourself a favor and keep emotion out of your decision making process. When the dust settles--and it eventually will--you have only yourself to answer to.
Gotta hop...lotsa balls in the air. Hope you're hittin' 'em hard.
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.
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