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Patience and Patients

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Choppy and sloppy, whippy and trippy---call today's price action anything you want. Understand, though, that the difference between saying something and doing something is all the difference in the world. I can tell you this: If you're getting bullish on upticks and bearish on downticks, pare back your risk, take a step back, and find that elusive mojo.

Sitting in the conference room with the critters and a pile of french fries, I offered the Menagerie my thought that actionable trades are typically a function of time or price. The worst thing that we can do, as money managers, is to try and squeeze water from the stone and create something out of nothing. Opportunities will present themselves over the course of time and at the right price. The trick, boys and girls, is not to bleed to death by a thousand paper cuts.

Meanwhile, back in the tape, the S's (S&P) are outpacing the N's (Nazz) as the breadth in four-letter land is starting to stand out (negatively). I promise that nobody likes to trade more than I do, but if I've leaned anything over the years, I've learned discipline. Well...at least discipline as it relates to business anyway (Martin, more ketchup!).

One last thing. Charlie Garner has got to be the most underrated back in the N.F.L. Granted, as a lifelong Raider fan, I'm somewhat biased, but seriously...this guy can shake! Cut me, baby, and I'll bleed Silver and Black!

Hope you're all having a good day.

R.P

No positions in stocks mentioned


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.

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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