Chutes and Ladders
Market goes up, market comes down. But for those with discipline, there are shekels to be had.
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.
- Following a 20% six-day lift, it's too early to tell if yesterday was a pause that refreshes or a "sell the news" reversal of fortune.
- I'll simply ask Minyans to see--and respect--both sides as we together find our way.
- My gut? Lower, for a trade, as a function of continued credit congestion.
- There are babies in the bathwater and opportunities nestled in these obstacles.
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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