Random Thoughts: Bulls Find Room To Run
Bovines distance themselves from Friday's panic low.
Toothpick Buzz - 3:05 pm
Alright Warner Wolf, let's go to the video tape. Better yet, YOU go to the video tape because I've had my fill off videos and tapes. Seriously--I don't complain much (although someone called me a whiner last week, which was a first) but I've gotta tell ya, I'm bushed, beat, tired, wired, mired, conspired and altogether... I can't even think of another word. Calgon, take me away...
In time. But first...
- Newsflash! This is an important close. They're all important closes but given the proximity to Friday's panic bot, er, low, er, levels, the more Hoofy can distance himself from that abyss, the more realistic the double bottom-successful retest becomes.
- Why does that matter? Psychology and structural (credit) are 1-2 (or 2-1) in terms of the metric totem pole.
- Yeah, so I go out there and offer energy and retail are good counter-trend vehicles. Wal-Mart (WMT) is up 7%, Target (TGT) is up 5% and I'm in a dog fight with BHP Billiton (BHP), Weatherford (WFT) and such. You almost gotta laugh. Almost.
- I just said to Pep, "This rally has to hold, eh?" Master of the Obvious over here.
- Bias aside, it's hard to argue that this volatility is healthy. In fact, you can't.
- Gonna let out a snivlet of QLD (tech ultra) into this lift to appease the Trading Gods. Just trading and doing so with tremendous humility at that.
- Gotta hop--fare ye well into the bell and keep that smile on your puss. Profitability begins within.
Bell Buzz! - 3:26 pm
Maybe I'm holding on too tight, Goose, but I wanna short bands and wagons against my longs.
I just said to Pep "Well, at least they didn't crash on the day I put it out there." Then I looked at the clock, which said 3:17, and I said "Shoot--I just mushed Hoofy. I gotta sell something."
I did, against my morning purchases, but my P&L isn't as snazzy as I woulda thunk it given my bias and this (that?) move.
I learned a long time ago that when you're trading "well" and not making money, it's a sign. Same thing when you're trading poorly and not losing money. Know thyself and yes, that means a little something different to each Minyan.
Festivus. Just do it.
Before I jump to juggle my struggle, lemme take a quick moment to thank thy MVHQ staffers, who are busting hump to make the 'Ville what it is each day. We're getting well over 1,000,000 new Minyans per month (north of 10 million views) and that's a testament to the team. Thank you. And you. And you...
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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