Made it nearly seventy days
Losin' weight without speed, eatin' sunflower seeds
Drinkin' lots of carrot juice and soakin' up rays
What is it about Fridays that make you want to say the hell with it and eat like a banshee? I was all set to do a little soup and salad action when Bucky planted the McSeed in my head (shocker) and, wouldn't you know it, its cheeseburgers and chocolate shakes for everyone! I'm tellin' ya, at this pace, I could make Sherman Klump feel like a pony! Hercules!
Meanwhile, as I sit here and rub the belly, the tug-o-war continues with Boo and Sammy tuggin' on the tape and Hoofy and Snapper digging in on the long side. Daisy (dressed in her stylish Alice+Olivia pants) is standing next to her bull and offering words of encouragement as he fights the good fight. She knows that if the bullies can't close the tape above S&P 900, there will be a camp that starts pointing to the "failure" at resistance. Pull up that six month chart of the NDX (Nazz) again and you'll see what I'm talking about. If (big if) we begin to slide down the slippery downside slope, the technicians will point to a (negative) double top formation and the reactive crowd will likely turn seller.
That said, it's entirely too early to write today's epitaph as the tape is hanging in there, thank you very much. While the internals in four-letter land are troublesome (smelly SOX), the breadth on the big board is even, Steven--in the face of some sloppy banks. The bovine will also point to the dry retailing sector and the traction in the brokers.
The ursine crowd, meanwhile, feels like they're one last gasp (rally) away from exhaustion. I've spoken to Buttermaker and we both agree that the bad news bears will have their day in the sun...it's just a question of timing. Hey...maybe Bucky Engelberg knows the answer!
I can "see" both arguments and rather than sit here and schvitz, I'll simply trade around a larger thesis and set a level where my risk is defined. Often times, setting a "stop" allows you to remove emotion and focus your efforts on new ideas and money making situations. It's important to find a style that allows you to remain proactive and open minded. Different folks will use different strokes, so find a method that works for you and remain adaptive.
After much deliberation and considerable consternation, I've decided against making the trip out to the Raider Nation for SnowBowl II. I know-I don't deserve to wear the Silver and Black-but rest assured that I'll soon make my annual pilgrimage to tailgate with Raider Marc and Raider Max.
Also, thanks for all of your responses to the t-shirt poll yesterday. The blue team beat out the white team but Casey and I made and executive decision and decided to produce both! I love t-shirts...but only if their uuber-soft and comfortable...so rest assured we've put this cotton through the ringer before putting the Minyanville label on it. Above all else, the citizens of our humble little town deserve nothing but the very best!
I hope this finds you well.
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.
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