You are such a wuss Toddo!
This is the forth straight day that the market has taken it on the chin and discipline dictates removing a leg from the metaphorical bear costume. Naturally, my issue is one of timing (trade for the day vs. trade for a thesis) as the Razor Burn thesis is still very much in play. If I were writing on Monday I'd probably have an extra arm to remove-but if wishes were knishes I'd be 20 lbs heavier! No looking back, Toddo!
Discipline is discipline and, while I still want to 'trade around' a short thesis, I'm gonna remove an appendage and hop around with one leg in my metaphorical bear costume (25% conviction on the short side). I want to see how S&P 900 and NDX 1050 "trades."
So you know.
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.
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