Randoms: Married to the Mob
The bovine bully the tape higher in early trade.
Editor's Note: The following was posted in real time on our premium Buzz & Banter (click for a free trial). It's being shared here for the benefit of the Minyanville community. See also Where We Were and Where We're Going.
Honey Dew - 9:28 am
- I thought now might be a good time to let Minyans know I got married in Vegas last week. It was a small ceremony with a few close friends but we wouldn't be a community if I didn't share the news.
- Through the lens of "you can learn a lot just by watching," Research in Motion (RIMM) again trades dry in the face of fugly futures. Should the tape flip the switch this stock could lead the speed.
- The first of our ten 2009 themes was societal acrimony shifting to social unrest and then geopolitical conflict. I think it's safe to say that we're now in the middle innings of that shameful game.
- Minyan B-Rife (not to be confused with D-Nice) points to the Baltic Dry Index (a proxy for economic activity) and the funky action the last few weeks.
- Minyan Peter hit the nail on the head with the FASB Board being "voluntold" to "fix" mark-to-market. I, too, expect some sweeping changes tomorrow and can't help but wonder if that will conflict with the PPIP. The fly in the PPIP is the transaction price--banks and private investors have different views of where the toxic, er, legacy assets should trade--but if banks can fanagle those marks, why would they dump 'em for a loss?
- Stock market fluctuations aside, I think a "U" shape recovery is best case for there is a very real chance we see an "L." Again, looking away from the screens and towards the street, it's getting worse, not better, out there as The Crisis of the Real manifests.
- Timmy Geithner is catching a lot of heat but remember, the dude grabbed a surfboard and ran straight into a tsunami. Not saying I agree with much of what he's doing--more drugs and less medicine prolongs the disease--but it should be noted that both he and our president inhereted this rather prickly mess.
- Don't Call it a Comeback... and don't count Ethan out. If revenge is a dish best served cold, I expect the former Chief of Staff, with the help of Aaron Pierce, to exact his pound of flesh from the very naughty Olivia Taylor.
- I enter today's session with half my financial exposure (added yesterday morning, sold into the close) and an eye on fading (read: buying) that complex for further schnitzel. I'll also try my hand on some RIMM, so you know, with a tight trailing stop.
- And no, of course I didn't get married last weekend. You think I would do that without telling our community? April Fools Minyans, now let's get out there and do the voodoo that we do. Good luck today.
Mallied? - 10:55 am
OK, now I've got LL in my keppe. A Minyanville lid to the first of ye faithful who can tell me what his real first name is.
As per my last Buzz--and honest, Abe, I tried to get it out there pre-opening (check the time stamp!), I faded (bought) the banks and scooped some Research in Motion (RIMM) under $43.
Trailing stops are my friend as nobody is smarter than the market, most certainly not I. For RIMM, I tossed a fitty cent trailing stop (with the stock at $44.25) and on the trading crack (yeah, I know), I slapped a 35 cent trailing stop (with the FAS at $5.60). This way, no matter what happens, I'm trading for a credit and leaving room for further jig. That's the type of risk-reward that floats my boat.
And no, I don't plan on holding RIMM into tomorrow's earnings, unless you count my trusty Blackberry.
For those who didn't scroll to the end of the last Buzz, I did NOT get married last weekend, it was an April Fools joke! Still, some of the better emails received were, "Congrats Toddo, I'm sure you and Mr. Bauer will be very happy together!" and, "So, was it Ginger or Mary Ann?"
Minyan Marco from Geneva shares this interview with Marc Faber. I bellied up with "the real Dr. Doom" once and gotta tell ya, he's a pretty cool cat.
I walked home last night after a snazzy business dinner to find Phoebe smoking a cigarette. How my doin'?
Minyans, don't let your babies grow up to be cowboys. Instead, let them grow up with the foundational construct of earning, spending, saving and giving through the Minyanland experience. 400,000 kids and 150,000 parents (word of mouth!) are a testament to Laurie Petersen and our children's initiative. Not sellin' (it's free), just tellin'!
In a way I am married--married to the mob that is Hoofy, Boo, Daisy, Snapper, Sammy and Cassidy. Hey, it'll happen--my definition of success has always been to be a good husband and a great dad--it's just that, uh, well, the last seven or eight years have required full throttle attention. All good things in all good times.
As always, hope this finds you swell. Pork chops and apple sauce. Swell.
In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.
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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