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Random Thoughts

By

Dr. Jon is getting married Toddo? Man, you really ARE getting old!

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  • 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!
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