Sleepless in Shrubbsville
Congrats Andy and Laurie!
Baby you can drive my car
Yes you're gonna be a star
Baby you can drive my car
And baby I love you
We interrupt this morning's trading to announce the arrival of a beautiful new smile to the world! My good friend and Wall Street legend Andy Srebnik officially joined the ranks of daddyhood! While most of us were fast asleep, his wife Laurie gave birth to Amanda Rose Srebnik, a six pound thirteen ounce bundle of joy. Amanda now has the delightful distinction of being the world's youngest Minyan! Wasabi Shrubs!
Other than that earth shattering news, it's particularly quiet in the city of critters this morning. Research is light and aside from Solly's boot of ALA and ERICY and Weisel's downgrade of EMC, there's not much to report there. Shockingly, the focus is once again centered on the geopolitical front. CNN has reported hat Iraqi troops have begun to mobilize, North Korea has restarted some nuclear power plants, crude is trading at a twelve year high and the dollar continues to slip as a function of the world events. Hey--let's go to the gas station. Double whammy!
It really is that quiet right now--almost too quiet. I will ask you the following question and be honest with yourself. When the futures just ticked up a point, what emotion went through your mind? Was it a fear of missing? We're you concerned that maybe the market might rally without you? That's ok if it was--the difference between thinking something and acting on it is all the difference in the world. I'm not saying you should or shouldn't play (that's for you to decide). I'm only asking you to think lucidly about why you want to commit capital (either way).
I'm gonna jump and focus on the durable goods number (exp. 1.0%, less trannie .9%) and jobless claims (exp. 390K). Yes, folks, despite what's going on in the world, economics do, in fact, matter.
I'll be back.
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 email@example.com.
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