Discipline is the common thread of any trading strategy.
For the Buzzless...
File this under "I would rather you know and then make your decisions than not know and not have had the chance" bin.
CNN and Bloomberg are reporting that the Pakistani president says a "high value" Al-Qaeda target is now surrounded. We've heard and seen a hundred false starts on this type of chatter but, as we've now filled yesterday's opening gaps, it may pick up traction.
For what it's worth (and it might not be much), I nibbled on those QQQ March 35 calls for a pure punt and I'm mentally prepared for them to go out worthless. IF (when) Bin gets caught, I think the knee jerk reaction is higher. At the end of the day, however, it does little to impact the scope of issues that are facing this market.
As always, just one trader's most humble opinion.
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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