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 email@example.com.
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 firstname.lastname@example.org.
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