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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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