A Fine Shine
Man, I feel like I took a spin class--without the seat!
You were caught in the crossfire
Of childhood and stardom, blown on the steel breeze.
Come on you target for faraway laughter,
come on you stranger, you legend, you martyr, and shine!
Man oh man! Ever see the movie Shine when Geoffrey Rush pounds the piano so furiously that the keys start flying everywhere? That's kinda what's going on here today. Wow! Every day is sheer nuttiness and walking through it with my fellow Minyans is an adventure beyond belief!
If I went back and read my posts today (which I always do), I'm sure the tone will seemingly shift into the late afternoon. I mean, I was cautious and selling rallies for most of the day and then BAMM--out of nowhere, I turn my back on Boo and start playing with Hoofy! Am I really that screwy or is there a method to the madness?
Here's the dilio. While I understand the dicey dynamic, my quack count justified putting on .25x of my defined risk upsides out to march. Is this inconsistent with the tactical trading style we've been discussing of late? In a way, yes. However, while we grind for three yards and a cloud of dust all day, we should always keep an eye on the safety to see if he's cheatin'. He may not be cheatin' yet, my friends, but he's definitely got a wandering eye!
With that said, there weren't many positives nestled in today's muck. The internals ended...anyone? anyone?...2:1 negative, the financials and semis got clipped for a percent, the geopolitical landscape isn't gettin' any better, Fokker has gas and I ended up hittin' a bag of cookies where it counts!
Tomorrow promises to be another wacky one (aren't they all?) but we'll worry about it when it gets here. In the meantime,it's Johnnie C's birthday and we're going out to celebrate with a gaggle of Grey Geese! Flickering ticks? They'll have to wait--there are more important things in life and having a drink with your buddy on his birthday is one of them. Spend your time wisely, Minyans--tomorrow is promised to nobody.
Have a peaceful night
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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