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The Fly Try

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Changes in lattitudes, changes in attitudes baby!

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Well the good ol' days, may not return
And the rocks might melt, and the sea may burn
I'm learning to fly, but I ain't got wings
Comin' down, is the hardest thing


(Tom Petty)

This one's for you, Brother Adam, as I pack up my boxes and herd up the critters. I too have thought many times about our awesome (front row) experience at Petty and it's something I'll never forget. Seeing that smile on your face, that beer in your hand and that spring in your step...it could have been one of my most successful moments. Happy and healthy to you and your beautiful clan-I'll see you in '03.

Turning my attention back to the tape, my actionable levels haven't been triggered yet. It's admittedly granular-dipping a leg into my bear costume at S&P 895 and stopping out both stumps at S&P 900-but trading is about commingling time and price and that's what fits my particular style at the moment. If S&P cash ticks at 895, consider my schnitzel in motion! Naturally, each of you-from Ferriso to Schotts to Slaino to Z to Casey Gard-has a unique profile that dictates unique actions. Identify an edge and trade to win-or understand if you can't find one and exercise patient discipline. Just be honest with yourself and dont' press!

The S's are outpacing the N's in both price action and internal strength as the chatter of the NDX rebalancing pressure is surely weighing on the techs. Again, I have no edge in this event and I typically shy away from trying to game crowded situations. I've found that SO many people are trying to do the same thing, it completely convolutes the process. I know that there are savvy traders out there who would argue this point with me and to them I'll say: good luck cookie!

Meanwhile, the trivia quiz is still open (see previous post) and the first correct answer will win that super cool fleece complements of Minyanville. Moving right along, I wanted to kick off today's poll with a simple question: Who is the best actor of our generation. To be clear, this includes both men and women, so vote with a clear conscious and please don't yell at me. Due to the expiration, I'll be closing the polls at 2pm today--so send those answers to survey@minyanville.com and we'll see what thy people choose.

Hope you're shooting straight, Tex!

R.P

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