Freaky Friday Potpourri: The Value of the 'Ville
Some well-deserved shoutouts to our professors and community.
If 2008 has been the most "interesting" year in history, yesterday's session was one of the most memorable. The world watched with bated breath as the S&P flirted with the 2008 lows and, as traders grabbed their wubbies and prayed to porcelain Gods, the date with destiny was upon up.
A funny thing happened as we slipped lower towards S&P 840. A bevy of professors on Minyanville's Buzz & Banter mused that a "false break" lower was quite possible and it would likely serve as a precursor to a stellar upside Snapper.
Jeff Cooper was en fuego as he mapped pivot points with his unique approach. Bennet Sedacca eyed locals on the floor gunning for stops and noted the potential for trapped shorts. I closed my eyes and bought 'em into the abyss when the S&P was down 30 handles and Pepe Depew flashed a bevy of DeMark buy signals as he highlighted positive divergences in select sectors.
We don't take victory laps in the 'Ville as humility is the hallmark of our community. I would be remiss, however, if I didn't offer sincere gratitude to our professors for their fine feel and continued effort to affect positive change through financial understanding.
That's what sets Minyanville apart, a genuine desire to help others find their way from the ABC's to the 401(k)s.
This isn't specific to yesterday as our community wrote the road map to deflation, debt destruction, derivative contagion and a prolonged period of socioeconomic malaise when the mainstay indices were at all-time highs.
Now that we've arrived at those tough times and everyone is on the Depression train, we've shifted our lens towards potential solutions and the process of time and price discovery paves the way to our ultimate destination.
It's not always easy-as evidenced yesterday's column that highlighted the shifting social mood and percolating societal acrimony-but you have our word that we'll continue to offer honest, forthright "sans agenda" vibes through these most difficult times.
Along those lines and while on topic, we offer a gratis two-week Buzz & Banter trial for those unfamiliar with the product. It's pretty snazzy but alas, I'm quite confident it'll speak for itself.
In the interest of bringing yesterday's fray full circle, I'll share my last post of the Thursday blur so we're all on the same page with regards to my current exposure.
Updates R' Us!
Heads up Minyans! While I think Hoofy has room to run, I'm taking the lion's share of my exposure off into this ramp. Why? A fool and his money are lucky enough to find each other in the first place and 20% intraday swings are made to be taken.
I'm leaving smallish DXO (energy proxy) on my sheets but other than that, I'm long powda and short chowda.
I've gotta film a "top secret" session with Hoofy and Boo so I'll be out of pocket for a few hours this morning.
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