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Lake Flaccid

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Sorry Daisy--I just couldn't get it up...

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That Macro hedgie has accumulated over 2000 S&P futures and yup, you guessed it, he couldn't get it up. This type of inaction implies that there's a decent amount of supply in the market place. What can we make of this? Well, we could make a broach or a pterodactyl but I'd just file it away as a negative data point in an endless stream of information. Surely, there is time left in the day and anything can happen but if these types of orders couldn't budge 'em, that's a sign. And stop calling me Shirley!

Again, I've got to run on the closing bell so I wanted to get one last post out to you before I abandon my post. Thus far, the action is overtly negative and I've gotta think that the "blind ambition" crowd who chased 'em are (once again) smarting. Please understand that I'm not rubbing salt in anybody's wounds-I'd never do that-I'm only trying to wrap my arms around the collective psychology. When the fear of missing morphs into a fear of losing, the long side will become intriguing.

Barring a late day lift through S&P 905, I'll once again hop home with my leg in the metaphorical bear costume (25% conviction on the short side). It's been a long road for Boo and I understand his desire to hit 'em where it hurts, but I've reminded our resident ursine that a smug bear is a dead bear. In other words, don't feel too good when you win and don't beat yourself up too much if you got clipped. It's all about smoothing the process and finding consistency in your returns.

Many of you have asked what you can do to help the critter's cause and I will (humbly) ask that you help spread the word. We rely on word of mouth and with each day, the mouths are multiplying. Minyanville will continue to roll out more content and introduce new writers and I think you're gonna dig the direction we're moving in. Casey and I were mapping out the little red schoolhouse last night and I know Dean Dwyer is lining up some good Profs for UMV so-what can I say-the best is yet to come!

Head up team--tomorrow's a new day.

Have a peaceful night.

R.P

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No positions in stocks mentioned.

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 todd@minyanville.com.

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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