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Random Thoughts: Hoofy and Boo Score an Emmy Nomination!

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MV in good company with CNN, Newsweek in New Approaches to Business and Financial reporting category.

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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 Is the Worst of the 2008 Spook Behind Us?


Gate Sniffage! - 10:07 am

  • Last Wednesday, as the Dryships (DRYS) equity epitaph was being written all over the Street (with the stock at $14 and change), I nibbled on this once proud puppy and slipped it into my book. A few days and 57% later, as it's simply a trade, I sold 2/3 and slapped a trailing stop on the leaves. Better lucky than smart.

  • It's small potatoes, as is my exposure as a whole at present. Hit it to quit it and make it to take it, that's my motto until such time I define a discernible edge. There are a LOT of trading opps for the disciplined risk managers among us.

  • S&P 985 and NDX 1368 are worth watching as they would create a "higher high" to go along with the multiple bottoms tested near S&P 840.

  • Yes, those levels can be used by Boo as upside stops should he so wish.

  • I will again remind Minyans, however, that the more times a level is tested, the weaker the level becomes (as demand is absorbed).

  • It sure was nice seeing a semblance of normalcy return to NYC even if it was during a stretch when everyone was in pretend mode. Still, it yielded some interesting anecdotal evidence with regard to social mood and the breadth of economic impact.

  • Lemme hop and get my bearings. I'll be back, Minyans, have a great session!


HEAR YE! HEAR YE! HEAR YE! - 10:28 am

STOP THE PRESSES AND PAY ATTENTION AS THIS IS SOMETHING WE SHOULD ALL TAKE A MOMENT TO APPRECIATE!

MINYANVILLE IS PROUD TO ANNOUNCE AND THRILLED TO SHARE THAT HOOFY & BOO HAVE BEEN NOMINATED FOR AN EMMY AWARD BY THE NATIONAL ACADEMY OF TELEVISION ARTS & SCIENCES FOR BUSINESS AND FINANCIAL REPORTING.

YOU'VE COME A LONG WAY FELLAS AND WE'LL BE ROOTING FOR YOU WHEN THE WINNER IS ANNOUNCED ON TUESDAY, DECEMBER 2ND AT THE RAINBOW ROOM!

ENGINE ROOM, MORE SCREAM!


There's Enough Cloud for All Minyans! - 11:45 am

Chill Mick, we're an inclusive community and we've been on cloud nine since hearing that Hoofy and Boo have been nominated for an Emmy Award. We're up against Newsweek and CNN in the category of New Approaches to Business & Financial Reporting, but one step at a time and, in an effort to enjoy the journey, we're letting it all sink in. In other, non-narcissistic circles:

  • Dryships (DRYS) is case in point for why trailing stops are an effective method of risk management. That said, I'm happy to book the trade by the end of the day as I wanna be trim and slim into the election. My book, mind you, not my belly.

  • Keep an eye on the VXO, which has retraced more than 50% of its upthrust since that began at the beginning of our September to Remember.

  • Please note that while I continue to fear that "something serious" could occur in the Middle East while the current administration is in office, that doesn't mean it has to happen tonight. Indeed, we've got another three months to sweat out this particularly sticky situation.

  • Eyes of the world? NYSE internals have been solid all session but our udder tells are mixed nuts. At a point, I'll nibble back on some of the DXO I sold into the recent lift as I trade around that upside "counter-trend" crude bias.

  • Hey Risk Junkie--you don't have to trade, you simply need to win most of the trades you choose to make while quickly cutting the sinners. Remember, good traders know how to make money but great traders know how to take a loss.

  • Lemme hop, Minyans--I'll be back. Boo is already bugging me about which tie die goes best with a tux!


R.P.

Did you know the doors to Festivus 2008 are officially open? Have you yet locked your spot for the critter trot as last year's soiree sold out? (This is our annual event to commingle our professors, partners and Minyans while chowing down and listening to live music. The very best part? It's for the kids in the good name of my grandfather.)

Position in DRYS, DXO

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 todd@minyanville.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.

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