Be careful today and look through the muck, for I'm the town cow that loves to ....smile!
Hey, hey we're the Monkees
And people say we monkey around
But we're too busy singing
To put anybody down
Good morning and welcome to the jungle gym. The minxy evolution continued yesterday as an early upside feast morphed into a late hairy beast. The baboon swooned, the chimp went home with a limp, and the apes left with sour grapes. Can Hoofy's insistance surmount gorilla resistance or will Boo's bearish crew beat down their spew? It's Hump Day in the city of critters, Minyans, so settle in and settle down--the best is yet to come.
The recent range has been strange, but at the end of the day, we've gone nowhere fast. Hoofy, swinging gently in a hammock, has few worries. He's got the metabolism to digest the recent run, and as he sees it, this latest breeze of trader unease is the necessary doubt to break us out. Boo, scissors in hand, is convinced that a bovine decline is a matter of time.
And you thought you were confused?
We've danced to this song before, and when we read the history books, one of these critters is bound to be bitter. While my humble view is that we're due for some goo, there's ample cause for the bears to pause. Hands over the eyes, textbook technicals want to see a sideways basing before we resume racing. The doubtful ursine, they opine, are fuel for the everlasting climb.
We could bust out, that's for sure, but I doubt sincerely that we've found a cure. My honest take is that we'll break, as the liquidity song only lasts so long. The wall full of writing, from what I can see, will soon spell out for all to see. We've been here before, is what it will say, the braggarts and bovine will soon rue the day.
I don't mean to bum, if that's what you think, I simply believe we're close to the brink. It may not be now, it may not be then, but question, quite truly, the why and the when. Think for yourself, look for an answer, the musical chairs are meant for a dancer. Breath deeply, I'll ask, and smell with your nose, make sure that you're ready, when the blooms off the rose.
Good luck today.
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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