If something seems too easy, it likely is.
I close my eyes
Only for a moment and the moment's gone
All my dreams
Pass before my eyes, a curiosity
I've written many columns over the past few years but I'm not sure that I've ever penned one like Full Circle before. It was an extremely special weekend and the ability to share it with my fellow Minyans made it all the more so. I was overwhelmed by the responses. Thank you all kindly for, well, being you. That's what makes Minyanville unique and, as we continue to grow, I'm hopeful that you'll grow with us.
A couple of quick thoughts before the opening bell. This morning's ISM Non-manufacturing report (exp. 49) should help to set the early tone. I've been pouring through my chart work today and while I continue to trade with my right hand up, I'd be remiss if I didn't point out the breakout in the DIA (Dow Jones) and "momentum potential" (NDX 1200?). That doesn't mean we're destined to get there but it's important to see all sides of any trade before assuming risk.
The extended nature of the tape coupled with the pervasive bullishness complicate the situation (shocker) and the "unknowns" in our midst add an element of uncertainty as well. For my part, I've got a few situational longs (via options) set up against a smidget of defined risk puts and enter the day pounding my glove like a third baseman. My initial "read" out of the gate is that the path of maximum frustration might be higher first -- thereby sucking in the last bear standing -- before rolling over and giving the bulls a smack down.
The all-star guitar got some press this morning so, if you're interested, check out A.J. Carter's piece in Newsday. And again, thanks to Jordan, Jed and Doug for their kind gesture -- you're all Minyan menschs!
Have a good day, my friends, and let's put some jingle in our jeans!
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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