I still think higher prices are a gift!
- Most things seem obvious with the benefit of hindsight. One year from now, we'll likely look back and feel the same way.
- The Sport's Illustrated cover jinx lives (Kansas City Chiefs). The Time magazine cover jinx (Revival of the job market) will likely live too.
- The Barron's article comparing our current (market) juncture to the Nixon administration is a must read.
- I'll take my Raider highlights where I can get 'em...although they made the game a lot closer than it had to be.
- Stylistic approach is an important variable. Trading from the long side (buying to sell) has been right for eight months. Has the dynamic shifted such that trading from the short side (shorting to buy) is the stream rather than the salmon?
- Thank you Jennifer Ablan for the Minyanville mention in Barron's!
- "Benjamin Ghraham, the dean of security analysts and widely acknowledged to be the most important single influence shaping modern investment theory, recently mused, "In the past ten years Wall Street has given a poorer account of itself than at any time in its history....You can almost despair of expecting any rationality if you look back over what has happened...after new highs were made for the indexes at the end of 1972 and the beginning of 1973...we saw another kind of collapse very similar in terms of the figures to what we saw in 1970. How people could have had the lack of prudence to reestablish those late 1972 and early 1973 values is something I don't think I'll ever understand." -- Psychology and the Stock Market by David Dreman
- Living la vida Fokker.
- SOX 496 fills the gap from November 3rd.
- I'm going to see Carmello in the big D this weekend. Noice.
- If the VIX doesn't tick with a 3-handle (30+) in the next year, I'll eat one of Fokker's socks.
- Making my calls, it seems that most people feel that this is a simple correction before new highs. If we DO see S&P 1060 again, I don't think it'll contain the minx (resistance/support gets weaker on each test). It would surprise me, however, if we ever get there.
- I took my niece to Serendipity 3 for a frozen hot chocolate yesterday. I'm not sure who had more fun.
- Yes Dan Meehan, the Pats are 8-2...but the officials still stole the AFC championship from us a few years ago.
- The homies and internets continue to come for sale.
- It makes a ton of sense that the professor joins M.S.Howell's. Gilligan is psyched!
- If any Minyans are driving from NYC to northeast Ohio for Thanksgiving, Minyan Rebecca needs a lift.
- Trailing stops are a great way to keep your upside open while limiting your risk.
- Keep a sharp eye on the financials--if there's any shot at traction today, it'll likely emerge in this group. As it stands, the brokers trade relatively dry.
- The drugs remain a battleground (Pfizer (PFE:NYSE) is flat).
- Breadth remains Snapper's biggest hurdle today.
- I have balanced my book somewhat (remember, I am long gamma). I still wanna trade from the short side but we may have better prices to fade (read: sell). Not advice--just a thought.
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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