I Love a Parade!
Surely, there will be a crowd that views the initial pullback as an opportunity to "get in" and the tape will act much better than expected at a point. However, Boo points out that every vicious rally we've seen in the last few years has been an opportunity to make sales. That's not a market call, that's just fact. That little bear actually spent the better part of the night sitting next to my bed whispering in my ear while I was sleeping. I finally had to wake up, sit him down and have a face to fuzz.
Toddo: Dude...you gotta relax already. I know you've got a lot of nervous energy, but if we don't get our sleep we're no good to anyone. What time is it anyway?
Boo: Sleep? Sleep?!? How can you hibernate when so much is going on? Don't tell me you're falling for Hoofy's bull again, Toddo. Every time he and Snapper play their games, they're like the pied piper leading the masses to slaughter!
Toddo: Boo, listen to me please. You must let the Minyans choose their own way. All you can do is explain the caveats, just as Hoofy explains the potential positives. Everybody has their own style...some focus on the cycles, some play the trends...you know the deal. I am firmly in your camp from 40,000 feet but there are going to be opportunities along the way and we must remain open minded. You saw the new Investors Intelligence numbers, right? 28% bulls? That's pretty low, man. Pass those cookies.
Boo: (handing over the Brent & Sams) Yeah, I saw those numbers-but that's not a short term trading tool, it's just an input to factor into the mix. What's come over you? A 1000 point Dow spike into resistance? That's textbook Toddo action...have you lost your nerve?
Toddo: My little friend, you must understand that Minyanville isn't about telling people where the market is going, it's about giving them the information to make better choices. I'm wary of this rally, you know that, but there are still many balls in the air. If and when they get the tape back down, there will certainly be catalysts to point to-there are always reasons for the tape to be anywhere at any time. Our goal is to identify disparities between perception and reality and capture that disconnect. It's what we do.
Boo: You know, you've really become a grumpy old man. You used to be this fun, happy guy and you've turned into a boring, pensive old fart. Do yourself a favor and go back to bed. I'm heading out. It's Tuesday night in Minyanville baby and you know what that means...there's tail everywhere!
Toddo: Enjoy brother...but get your rest...tomorrow is surely going to be a battle.
With that, Boo slapped on some cologne, threw on a sports coat over his tie-dye and walked out the front door. Me? Well I went to bed, naturally. It is, after all, earnings week and we hadn't even reached the half way point yet.
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.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter