The Hazy Shade of Winter
Hey Hoofy--wanna grab a steak? DOH!
Yellow moon on the rise
Big birds flying across the sky
Throwing shadows on our eyes
Snapper gave it the ol' college try but when it was all said and done, he didn't have the juice in his tank. The techs traded heavy from wire to wire and the traction in the banks simply couldn't carry the load for the entire market. Still, the Minx closed well off her lows and I'll power down my eight screens with two legs in my bear costume (50% conviction on the short side) and a rather substantial amount of chocolate in my belly. I'll tell ya, if I keep eating like this I'm gonna have to get a bigger column!
The NDX is now down over 7% from Monday's high and there will inevitably be a point when the dip buyers pause to reassess their strategy. We know that the recent rally has squeezed a lot of bears out of their shorts and sucked new money into the market. The fate of the year-end tape will rest with how these longs react to adversity and how many buyers are left out there. As it stands, and I say this with the utmost humility, the Razor Burn thesis is still viable.
Alas, we'll take it one step at a time and try to enjoy the journey along the way. It's certainly easier said than done and I'd be fibbing if I told you I don't fall prey to the frenetic pace sometimes. There is, after all, a lot going on! A savvy gal I know reminded me recently that if we worry so much about getting there (wherever 'there' might be) we'll likely forget that we're here. It made me stop and think and I'm hopeful that passing along the thought will help you do the same.
Before I scoot, and in the interest of a continued interaction with the readers, I wanted to pass along a "top ten" list that my buddy Jordan forwarded to me. It made me smile and, well, smiles are good.
HOOFY'S TOP 10 REASONS FOR BECOMING A MINYANVILLE CHARTER SUBSCRIBER:
10) Our goal is to teach and educate, not earnings per share.
9) Daisy is the hottest piece of beef on the Internet!
8) This is the only place where you can actually see the mighty Casey hit a home run.
7) A better financial education than you can shake a stick at!
6) The only place on the web that you can learn Yiddish terminology and Led Zeppelin lyrics simultaneously.
5) Endorsed by William Fleckenstein. We don't take this recommendation lightly!
4) At $10.00 per month, the best value on the web!
3) We'll explain the "how's" and "why's" and offer you eyes.
2) Our goal is to make you as informed as possible and help you help yourself.
1) All Critters all the time!
Have a peaceful night, my friends, and I'll see you in the ayem.
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.
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