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Random Thoughts: Engine Room, More Steam!

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Leave it all on the field today.

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Editor's Note: The following was posted in real time on our premium Buzz & Banter. It's being shared here for the benefit of the Minyanville community. See also Conversation With Mr. Practical and Storm Clouds?


Gate Sniffage! - 10:05 am



Six Two Stacked Monster! - 10:16 am


We like to do our part in Minyanville. Sometimes, that means throwing yourself under the bus for the benefit of the greater good. We've tried many things over the years to shake up the Mojo.

SushiFriday.

Shoes off.

!esrever ni gnikaepS

But now, for the first time ever, we've tried something entirely new and different. If this doesn't establish a trading bottom, I'm not sure anything will.




Bank Shot! - 11:09 am

  • Let's get back to justice. What is justice? Hard to tell these days (the whole world is out of order!) but Mr. Practical is on the right path.

  • How can you smile at a time like this? My fellow Minyans, this is precisely the time we need to smile most.

  • Long smiles, short trading (at least until the process of price discovery passes).

  • That doesn't mean we can't play, it simply means that the rules of engagement have changed. Indeed, I bought some gold yesterday for a trade but parceled it out into the close as a function of discipline. Opportunities are made up easier than losses but that sword swings both ways (and syncing your risk to the appropriate time horizon is key).

  • Do you buy Rosh Hashanah and sell Yom Kippur or the other way around? I never could remember how that went. Either way, with the holidays approaching, lemme be the first to wish all ye who observe a healthy and happy new year.

  • Isn't being a community precisely what the internet should be about?

  • Engine Room, More Steam!!!

  • There will surely be survivors in the banking world and, as we've written, Bank America (BAC), JP Morgan (JPM) and Wells Fargo (WFC) will be among them (they actually may be them). Interesting that those are the three green beans in that complex today.

  • Minyan Jim just offered to toss two-fitty into the RP Foundation if I wear the helmet on my upcoming Truman Show hit. I would but I keep thinking of the Joe DiMaggio story. You know, in his last season, he hit a routine grounder, ran as fast as he could to first and was out by a mile. When he got to the dugout, a rookie asked him "Hey Joltin' Joe, you knew you were gonna be out--why did you run so hard?" DiMaggio looked at him and said "There's always a kid in the stand watching a game for the first time. I want him to know that that's how the game is played."


R.P.



For NY area Minyans that would like to attend this event, click on the image and send a request.

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