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Chutes and Ladders

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Market goes up, market comes down. But for those with discipline, there are shekels to be had.

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My goodness-writing, trading, building, growing, seeing, believing and scanning the new world order certainly takes a toll, doesn't it?

I was melding with President Fish and C.O.O. Ike yesterday about some year-end Minyan Milestones and Kevin mistakenly said "2001" instead of "2010." I turned to my best friend of 21 years and said "Time sure flies, eh?" Indeed it does.

Time, as Ruby used to say, is the most precious commodity.

I'm filming Yahoo TechTicker this morning and-wanting to respect your time-I'll quickly share some Minyan fare as we ready for the Thursday blur. I'll be back in the saddle before thy opening bell tolls so I'll see YOU on the Buzz.



  • Synchronize your time horizon with your risk profile. Big picture players shouldn't worry about near-term noise and active day-traders need not have a macro bias.

  • With commodities down 45% since July-and conscious that the other side of a bubble typically means trouble-I'm inclined to focus my purchases in that space.

  • Why? Demand destruction and forced selling by the hedge fund community has sucked geopolitical risk premium out of the complex yet it remains a percolating possibility in an unsure world.

  • A snapshot of my (smaller) portfolio finds a snivlet of Yahoo (YHOO) calls (bought 'em back yesterday morning), tag-end SPY puts (held for sale through the lens of "just trading") and my Wal-Mart (WMT) put schnitzel (with a rolling stop).

  • I'm not married to any of 'em-I'm in 'hit it to quit it' mode as we find our way through this freaky fray. This market is a monster but for those operating with steadfast discipline, there are shekels to be had.

  • Pep's 5 Things: The Best Read on the Street.
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Positions in YHOO, SPX, WMT

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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