The conditional elements of a trap door are in place but given the internals, there is no guarantee that it'll spring.
As go the financials, so goes the tape? Yep, that's been the Minxy calling card for a mighty long time so enjoy the sizzle but watch the bacon. As it stands, the piggies are pokin' BKX 116 but they haven't pushed through.
I woke up this morning feeling more inspired than I've ever been. Alotta things just "clicked" in my crowded keppe, including the prioritization of MV initiatives through year-end '07. I've gotta say, I've never been more excited for the future. Hang on to your hats, Minyans, it's gonna be a mighty fine ride.
- Is NWS-DJ gonna happen? UBS planted the seed that it won't with its morning downgrade, noting the "gap risk" to the mid-$30's if the deal doesn't get done. As it stands, the stock is trading below the tabled bid.
- Successful trading is about securing a high quack count . In that vein, and while the tape acts great, the ducks aren't fully aligned. If we run for the roses, we'll look back at the breadth and offer that it was the uber-tell. If we fail, Goldman, Google and the inability of the banks to mount the BKX 116 hump will seem obvious.
- What's the answer? Discipline, patience and defined risk. The conditional elements of a trap door are in place but given the internals, there is no guarantee that it'll spring.
- Happy Birthday to President Fish,
Kevin Wassong , who I met the first day of my freshman year at Syracuse and have been best friends with since. I've said for 20 years that he's the best man I've ever met, save Ruby. Many happy returns, kid.
- How do you shoot the devil in the back. What if you miss?
- The Following Buzz took place at 11:03 AM…
Further to the last Buzz, I just told Pep that my gut is that today's trap door is gonna spring lower. I'm a bit hesitant to share that vibe as, well, we're all about the discipline of following our tea leaves. Still, as I mentioned earlier, I'm feeling particularly inspired today and if it's on the lung, it's on the tongue.
I'm watching the internals like a hawk for signs of slippage, as well as the homies (they feel like they wanna flip the crimson switch), dollar (for signs of traction), BKX 116 and the G-G duopoly (Goldman and Google), both ways.
I have, so you know, bought a tranche of S&P puts right here, with a tight stop above the daily high (S&P 1527).
Good luck, folks, and just remember....you're a Minyan!
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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