Holy cow! Hoofy just lurched across the trading desk, pinned Boo against the wall and proclaimed "The path of the righteous bull is beset on all sides by the inequities of the selfish and the tyranny of evil men. Blessed is he, who in the name of trading and good will, shepherds the weak through the valley of darkness, for he is truly his brother's keeper and the finder of lost profits. And I will strike down upon thee with great vengeance and furious anger those who would attempt to poison and destroy my positions. And you will know my name is Hoofs when I lay my vengeance upon thee!"
Whoa, big fella, chill out! You need to keep your cool like Fonzie if you're gonna make it through this trading muck. There are clear caveats nestled in today's landscape, and if you're gonna fade the fade's fade (play long), you must understand the risks involved. Whenever trading, long or short, it's always smart to "see" both camps and get in the head of the person taking the other side of your position.
The bank slippage has become more pronounced and, like clockwork, I'm seeing the weak hands dump their longs. Also, keep half an eye on those biotechs (BTK) as they've started to come for sale. This group has been a good harbinger for the Nazz, so it warrants attention. I've consciously not passed along much flow today because if I told you what I'm seeing, you wouldn't believe me. Tape is down, I'm seeing size for sale. Tape is up, I'm seeing size to buy. It's a recipe for whippage, my friends--and I'm seeing traders get whipped harder than the gimp!
On a housekeeping note, the vote from early this morning has been coming in skewed to the "black letters on a white background" camp, but rather than make any rash decisions, we're gonna switch it around next week and see which style resonates. Again, if you have a thought (or if you care!), ping an email to firstname.lastname@example.org.
Now, if you'll excuse me, Mia Wallace and I gonna step off for a little foot rub.
No positions is 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 email@example.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.
Get The Minyanville Daily Recap Newsletter
Stay current on financial news, entertainment, education and smart market commentary.