A chubby Boo (with cookie crumbs on his shirt) just walked up to a dejected Snapper, turned to make sure I was watching, and then spun back around and yelled at our turtle "BOO'S YOUR DADDY!?!? Man! The last time our resident bear got this cocky, his furry little tail got squeezed to the tune of 350 points! Is this actionable? Heck no-it's just silly metaphorical imagery! Still, there's a lesson nestled in there. If you pitched a good game today, humbly toss the ball on the mound and jog to the dugout-the meat of the lineup is coming up tomorrow.
Outside of a jiggy transport sector, there really wasn't many positives nestled in today's price action. The banks got spanked, the Semi's got smoked and the broader averages followed their lead. Further, EMC just blew and that's gonna dent the sentiment as traders power down. I suppose the "glass is half full" crowd will point to the fact that most of these averages are still holding above July lows...and they're right. As I've said, in order for a true "double bottom" to play out, there has to be an absence of hope. Perhaps some drekky numbers out of Washington tomorrow morning can cause that flush (random thought), but the long side seemingly remains the cute side. Tickle me Toddo!
Not the snazziest of sessions, but before you pick up that fork and stick yourself in the ear, remember that these flickering ticks---however consuming---are but a means to an end. We haven't touched on the lessons we've learned this past year, but as we continue to look forward, it's imperative that we never forget. If you can leave the price action at the door and spend some quality time with your loved ones, it's been a profitable day indeed.
Have a peaceful night.
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 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.
Get The Minyanville Daily Recap Newsletter
Stay current on financial news, entertainment, education and smart market commentary.