Bulls Lose Their Grip on Today's Tape
Welcome to the finance-based, debt-dependent, oh-my-goodness mindset, where the only true preparation is financial education.
The whippy trip continues to slip as Hoofy starts to lose his grip. I'll tell ya, if I slept late, grabbed a massage, took a walk in the park, played some ball, showered up and walked into work right now, I'd be having a great day. Truth is, after I punted my puts into the opening abyss, I feel like I've been shadow boxing with a mirror (and the mirror won).
Hey, it happens to the best of us and it's never been our style to duck the shuck when we, uh, mess up. Granted, it could be better (I've been feeling S&P 1375 for a while) and it could be worse (I could be long and wrong). In the end, the mechanics of the swing are more important than the results of the at-bat. So, we've got that going for us. That, and our health. And family. And pets.
We spoke this morning about the Redemption Songs and again asked the question as to what Central Banks saw last week. I won't hazard a guess but my sense is that whatever it was continues to lurk.
The thing is, if they were that freaked out last week, what must be going through their keppe's now? And, to take it one step further, what's gonna happen if and when we really get hit (the S&P is now flat and the DJIA is +3%). Welcome to the finance-based, debt-dependent, oh-my-goodness mindset, where the only true preparation is financial education.
Fare ye well into the bell and have a most mindful night.
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.
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.
Daily Recap Newsletter