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Randoms: Trading from Timmy's Grill

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The banks try to put on a brave face.

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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 To Buy or Not to Buy?


When I say pare shaped, I'm not talking about my physique--I'm tellin' ya, I'm on the healthy mind, healthy body, healthy spirit kick--I'm talking about my Turnaround Tuesday trading. I've been more active than the pathogen in Jack Bauer, hittin' and quittin' on both sides of the ride, and this is where I've netted out.

As discussed in the last Buzz, I halved my FAS and Amazon (AMZN) into the hot popper. Additionally, as I spied slippage in the semis, I followed suit in the QLD (NDX 1300 support notwithstanding). From there, I watched and looked for clues on one of three potential scenarios: Bull Stuffage, the vaunted Double Dip (before a bounce) or straight continuation to the upside (I didn't vibe that but I most certainly respected it).

As Timmy's Grill offers food for thought, I've actually bought back some FAS (in and around $6.25) with an uber-tight trailing stop. That slug doesn't change the M.O. on the first piece (trailing stop for a credit), it's just a little extra effort as I play with house money. Doesn't make it right but it sure as schvitz is honest. And, given the fact that Amazon isn't lifting with this second push higher, I'm tightening the stop on my remaining exposure in that four-letter freak.

Meanwhile, every time I see Timmy, I think of Hoofy and Boo's take on AIG (AIG). If you haven't seen this yet, I suggest you do as a little levity goes a long way, now more than ever.

As always, I hope this finds you well.

R.P.



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.

Positions in FAS, AMZN, QLD

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 todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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