Freaky Friday Potpourri: Six in the City!
Classic game of hoops at the Garden paves the way into the weekend
After I had tickets only to see them fall through, I got the call 30 minutes before tip-off. Third row, courtside, the twentieth-ranked Syracuse Orange against UCONN, the fourth-best team in the country, in an epic Big East battle. My school, my city, my goodness - game on.
The numbers were staggering. Six overtimes, 3 hours, 46 minutes and a combined 244 points (102 of which came after regulation) in a game where
Some have already said that it was the greatest college hoops game ever played.
For me, it was a welcome reminder that the purpose of the journey is the journey itself.
"Shaking in the desert, wherefore do you cry? Here there may be rattlesnakes, to punch you in the eye."
- Grateful Dead
We subtly segue this morning's missive toward a dose of reality. Truthfulness. Full disclosure, if you will.
I posted the following on the Buzz & Banter yesterday at 3:00 p.m.:
Missed It By THAT Much!
And so it is, the mere anticipation of a shift in mark-to-market accounting -- coupled with a massively oversold market -- has put some serious pep in Hoofy's step. This catalyst has been circled on our screen for some time, yet we're left with very much the same dynamic: An anticipation of a seismic shift from the Beltway as a "kick-save" from the cumulative imbalances.
We're nothing if not honest in the 'Ville and I would be remiss if I didn't share that I missed today's move in it's entirety. Yes, it's frustrating given 1) I was lugging alotta exposure into Tuesday and 2) I was "out there" yesterday (and this morning) offering near-term upside vibes. If I write about opportunity cost being the other side of discipline, however, I must practice what I preach.
To be fair, my reticence to toss chips on the table today had nothing to do with operational procedure. I was simply too busy scribing vibe and working on Minyan initiatives to give risk its proper respect. If I've learned anything through the years, it's the basic assumption that the party on the other side of my trade is 100% focused and anything less on my part puts me at a natural disadvantage.
I've made a conscious decision not to attempt to make up for missed opportunities with an hour left in the session. I'm gonna let the tape play through with the understanding 1) tapes that are strong (heavy) all day with 2:1 internals tend to end that way and 2) S&P 800 looms large overhead. I know one thing - the market will be open tomorrow, fresh with opportunities when and if I'm properly focused.
Fare ye well into the bell, Minyans, and remember to leave emotions for weddings and funerals.
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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