Silly Hoofy--tricks are for kids!
Long distance runner what you holdin' out for?
Caught in slow motion in your dash to the door
The flame from your stage is now spread to the floor
You gave all you got, why you want to give more?
Hoofy took a running start...but just as he was about to break on through, he banged his horns on the ceiling! As such, my S&P 900 buy stop has yet to be triggered and I continue to dance with Boo on the short side. You know I don't trust 'em, but it's more important to be disciplined and maintain consistent mechanics on your swing. Think Tony Gwynn-not Dave Kingman-and keep that elbow up. Over the course of time, average is more important than power.
There's a lot of crosscurrents floating back and forth-the DAX is straddling 3000, the brokers are mixed, software is all over the place, Cisco is heavy, the SOX is down, gold is up and, most importantly, the auction is rocking! A check of the morning breadth shows a (thus far) constructive tone as winners are beating losers 9 to 5 on the big board and 3 to 2 in tech. Meanwhile, our trusty stochastics (in the S's and N's) are now firmly on bullish soil although, again, they haven't triggered (confirmed). I'll tell ya, cookie-it sure looks like next week is setting up to be a freak show!
Mark Mazzer has retaken the lead with a $4000 bid on our one-of-a-kind, signed by all critter poster (see below) and Ruby is surely smiling now. 100% of the (tax-free) proceeds go to helping kids and, well, that's just awesome! The auction ends at 4pm today (email stamp my be 3:59 or before), so send your bids to firstname.lastname@example.org if you wanna get involved. Cookie!
The tape is rollin' a bit and if we break much further, I'm likely going to roll my stop down on at least one appendage of my bear costume. Just givin' ya a heads up and trying to add some value to your process. The Minyanville mojo seems to be gaining steam and I'm hopeful that a little R&R on my part won't slow down the train. I'm not worried though...when you see the University and the other writers who are joining the fray, you're gonna say "Toddo who?"
I hope this finds you well. Good luck!
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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