California, a prophet on the burning shore
California, I'll be knocking on the golden door
Like an angel, standing in a shaft of light
Rising up to paradise, I know I'm gonna shine.
It's a slow and slithery Hump Day grump as we settle into the back nine of the trading week. The action has been a snoozerooni although some critters seem to be stirring under the surface. In particular, Hoofy has been eyeing the piggies (for a poke through BKX 100), the trannies (+1%) and the NYSE internals (creepin' while ya sleepin') with hopes that they can spur the herd. On the flip side, Boo maintains that folks remain trapped (note the action in Google) and the semis are slippy as we churn under the NDX 200-day and DJIA 10,400.
If any of the big three bovine bets (mentioned above) can improve a bit, the scales will tip towards Matador City. With that said, please be sure to identify a suitable time horizon as tomorrow is gonna be a humdinga. With Elmer's Zoo set to spew and quarter-end agendas in motion, alotta itchy fingers will be grasping at triggers. It's times like this when cooler heads prevail and, as such, we'll need to be extra careful.
As we're nearing the '05 Hump, I can't help but get a bit nostalgic. There's been alotta motion in the Minyan movement and MVHQ is jacked for what's to come. As we discussed over on the Buzz, the WSJ ran a feature on us that, while appreciated, failed to capture the spirit of our community. I'll simply say this-what we're trying to do here hasn't been attempted before and there's sure to be resistance in some circles. The onus is on us-all of us-to stick together and see this vision through to fruition.
Along those lines, and before I hop back to the Buzz, please let me again put Minyans in the Mountains in front of you. As evidenced by the plethora of feedback we've gotten on the Journal piece, there's a ton of motivated Minyans out there. Please try to join us in Ojai as we put faces to the names and build our network. In the end, human capital may well be the only asset class that appreciates in the years to come.
As always, I hope this finds you well.
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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