A Minyan Story
From our family to yours, have fun tonight!
"We plunged into the cornucopia quivering with desire and the ecstasy of unbridled avarice."
--Ralphie, A Christmas Story
Saddle up the sleigh as the critters are ready to play! Hoofy (wearing a black cashmere Armani sweater), Boo (wool pullover), Snapper (fleece), Sammy (muffs) and Daisy (fur-lined spandex Santa outfit) are all patiently waiting for Fokker and I to join the fray. We have the Minyanville holiday Festivus tonight and the menagerie is in rare form. Daisy dancing on a table? Woof!
Before we go to the show, the babes in tapeland merit a mention. Resilient? Like BB's to a battleship, baby, the Minxy moxie continues en masse. The price action is nondescript but impressive nonetheless--the dollar squalor (melt city), Red SOX, rude crude and (former) bad breadth was reason enough to stuff the fluff. It didn't, the traction became self-fulfilling (if none too thrilling) and it was vuja de all over again. It's conditioned the bulls to stay put and the bears to stay away. Sooner or later, that'll be a toxic backdrop for equities.
Themes today (other than eating)? Rotation, for one, as the S's continue to outperform the N's. In a vacuum, an intramarket rotation is the healthiest type of consolidation. That's a fact, Jack, and even grizzlies like me need to respect that. Still, the macro elements (along with some trusted technical techniques) are firing warning flares across the bow. Paying attention to those has been costly this past year. Ignoring them may prove to be even more costly as we trudge ahead.
In our trivia poll, congrats to Bill Fleckenstein for correctly identifying Animal House, Trading Places, Young Frankenstein, The Treasure of the Sierra Madre (or Blazing Saddles), Uncle Buck, Dumb and Dumber and The Nutty Professor as the sequence of movie quotes. Bill is already sportin' a snazzy fleece so perhaps we'll hold another auction before I pack it in for the year. I don't mind--giving is the single best part of the holiday season.
I'm gonna hit the road and ready the restaurant for tonight's feast. The Minyan team has put in countless hours of hard work, love, devotion and energy into making our community what it is. From the bottom of my heart, I would like to thank them for putting up with me as--shocker!--I can be cranky at times (no, really). I will simply say this--keep the faith and believe in our dreams, team, 'cause you gotta want it bad. We're gonna get there....one step at a time.
Have a peaceful night.
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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