The Pace Race
Discipline is SO sexy!
Just a heads up Minyans...
I've picked up the pace of my covers on my aggressive positions. 70 NASDAQ handles in two trading days is a bunch and, as discussed, I want to be in a position to fade (read: sell) a potential bounce. I'm keeping a slew of my longer term puts and have bought some of the underlying exposure against them (on a ratio).
If we break below the daily lows, I'll likely lighten up on some of that tertiary exposure (and keep the puts). On the upside, I wanna see how NDX 1390-1400 and S&P 1045 acts (if and when). Just keeping you in the loops as we find our way. (Yes, the breadth remains the most negative element of today's action and has yet to turn).
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.
Daily Recap Newsletter