By Todd Harrison Apr 03, 2003 12:14 pm
Dr. Jon is getting married Toddo? Man, you really ARE getting old!
- My systems went down for half an hour immediately after I posted the last piece. What did I do? I took a deep breath, stretched a bit, glared at Fokker and used the time to make some calls. The common theme? Everyone I spoke with is scared of missing the rally.
- The hardest part about trading gamma as a bear is buying them when they're down.
- I've got a pimple right on the tip of my nose. I mean, honestly, I'm 33 years old -- what's that all about?
- N's over S's today.
- Congrat's to Dr. Jon and Susan on their pending nuptials!
- It's always a new paradigm -- until it's not.
- There's a thin line between selling hope and fighting the tape. Each trader must draw that line for themself.
- Reuters is reporting that a U.N. envoy says there is a "real potential" for the North Korea crisis to escalate into war. This is a textbook example of the importance of the psychological and structural influences in the market. If people don't want to focus on it, they won't. If there's a large allocation trade into equities, it'll swallow the hedge fund supply. Stay tuned.
- The most important tell for equities? The U.S. dollar.
- For the first time in many years, I've given thought to moving out of the city.
- The BKX bears watching.
- If I had all the answers, my friends, I would gladly share them with you.
- Much love to the Margarita Mama today -- I'm with you in spirit.
- If your mood is directly correlated to your P&L, you need a dose of perspective.
- In bear cycles, traditional trading methodologies don't work. That's why we must always adapt to the market.
- The difference between respecting the action and deferring to it? I'm factoring the constructive minxy mood into my stylistic approach (respect). If I simply bought stocks because everyone else is, I'd no longer have a catalyst if the tape turns lower -- and that's a bad place to be.
- I think I need to pencil some time to spiritually refocus. Sammy, call Miraval!
- Writing my opening piece today was cathartic.
- If the S&P is at 650 in two months, we'll look back and say that it was obvious. If the S&P is at 1000, we'll look back and say that when the market didn't go lower on those obvious concerns, it was "telling" upside sign.
- If you're staring at every tick, you're likely too big in that position.
- Good traders make money, great traders know how to take a loss.
- Tony has become more than a fellow Minyan -- he's become my brother.
- Does anybody else think that Brig. General Vincent Brooks looks like T-Mac?
- Let's go Orange!
- Discipline has it's costs: I've been stopped more often than Martin at his high school prom!
position in qqq, spy
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