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Tall Tails

By

May peace be with you and your family.

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Mine's a tale that can't be told
My freedom I hold dear
How years ago in days of old,
When magic filled the air


(Led Zeppelin)

Well alrightee then, another session is in the books and we can finally tune out the night vision and turn up the court vision! That's right, it's March Madness in Minyanville and despite the war stories, the games must go on! Take a break from the gun shots and start focusing on the foul shots, baby--it's much better for the soul!

A wild and whippy day ended with marginal gains and after the recent rally, that's a constructive showing. The boyz from Matador City defended S&P 860 in the early hours and when held the line, their brethren became emboldened. Toss in a spate of short covering and a few potential alligators and, voila, here we are.

It's been a wild ride these last few sessions and while I've clearly been too cautious, I'm coolio with the mechanics of the swing. Throughout the last three years, I've operated in a similar fashion and it served me in good stead. This time may indeed be different--time will tell--but if I closed my eyes and pictured a textbook bull trap, this would be it. If I'm wrong, I've got defined risk and I understand that opportunities are made up easier than losses.

Either way, you won't get excuses in Minyanville--just honest analysis and forthright commentary. There's a lot of "noise" out there vying for your attention but at the end of the day, you're responsible for your own decisions. I'm not judging anybody--that's never been my style--but for years, I've watched "gurus" dribble on themselves every time the tape upticked and its cost investors a ton of money. Yes, they'll eventually be right, but if you're gonna make that bet, you should have your eyes open and your conscious clear.

More importantly, it's time to power down and take a chill. I'll be making a big announcement tomorrow morning regarding the Minyanville family so be sure to keep an eye open. In the weeks and months ahead, I think you'll be pleasantly surprised by the additions we make from both a content and a humanity standpoint. In the immortal words of Snoop Dogg, "It's aaaaaaaall good!" Take the time to do something Joel, my friends, and fare ye well.

Have a peaceful night.

position in s&p.

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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