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Todd Harrison is writing again
- Thread starter ez_go_win
- Start date
I'm starting to play his calls using SPY. Decide the size of the position I'd like to have and add 1/4 of that with every 25% change in his conviction level. He gives his stop area in the s&p so I'm going to try it out for a while. I've read him since day one at realmoney and he's bang on almost every time. I bought SPY twice yesterday, once near the first intra day low when he called it and again on the close. Sold into the open today.
I read him for awhile back in November and December, but basically stopped back in early December when it went to a subscriber basis...I felt it was pretty good at gauging market sentiment in a "loose" and "macro" sense, but as far as being in touch with the short term, or "micro" flows it was a bit counter-trend...Nothing wrong with that, but my impression is that Todd is basically consistently fading the micro to position on the macro...I know of several others who trade in a similar style and its more of a "fund" type approach, where they will endure short term pain to try and "position" for the eventual retracement back...
The only real comment I have about Todd's timing is that since he is essentially positioning on the macro, its a bit misleading to say that he nails tops and bottoms...In due time, of course, he does nail them the majority of the time...But one should also consider that he often will hold a "fractional" position counter to the micro trend for days at a time, averaging in as price moves against him...Therefore when it reverses, it would be safe to assume that he does need more room to capture his cost on the retracements...
Readers will remember his comments from November when he was racketing up his exposure throughout November and was probably still short into the eventual swing high on December 2nd...If he had the patience to wait it out, he eventualy recovered his cost, but this is a very macro approach to trading...
The only real comment I have about Todd's timing is that since he is essentially positioning on the macro, its a bit misleading to say that he nails tops and bottoms...In due time, of course, he does nail them the majority of the time...But one should also consider that he often will hold a "fractional" position counter to the micro trend for days at a time, averaging in as price moves against him...Therefore when it reverses, it would be safe to assume that he does need more room to capture his cost on the retracements...
Readers will remember his comments from November when he was racketing up his exposure throughout November and was probably still short into the eventual swing high on December 2nd...If he had the patience to wait it out, he eventualy recovered his cost, but this is a very macro approach to trading...
"hedge fund Berkowitz Capital, which is now run by Jeff Berkowitz (Cramer's Former Partner), isn't doing all that well. According to the latest SEC filing, he is down to only $28 million in the fund. That's down from $212 million in June 01. I'm guessing that he must have lost his biggest customers. "
i wonder if this happened while todd was trading there or after. since he just left i would guess while. not too good.
i wonder if this happened while todd was trading there or after. since he just left i would guess while. not too good.
vulture,
I wouldn't argue with your description of his approach. But he did put on long exposure near the close yesterday and blew it out today.
I wouldn't argue with your description of his approach. But he did put on long exposure near the close yesterday and blew it out today.
Quote from vhehn:
"hedge fund Berkowitz Capital, which is now run by Jeff Berkowitz (Cramer's Former Partner), isn't doing all that well. According to the latest SEC filing, he is down to only $28 million in the fund. That's down from $212 million in June 01. I'm guessing that he must have lost his biggest customers. "
i wonder if this happened while todd was trading there or after. since he just left i would guess while. not too good.
It certainly explains his leaving, although we don't know if the assets were withdrawn or lost. I'd love to know the full story.
Apparently he will have a special rate available Feb 1 of 79.95 for a year prepaid. Talk about your basic no-brainer.
28 million? That's amazing. When Cramer was still there they were running 400 million. I'm sure there is an interesting story behind the fund and the apparently strained relations between Toddo and Jimbo.
Quote from vhehn:
"hedge fund Berkowitz Capital, which is now run by Jeff Berkowitz (Cramer's Former Partner), isn't doing all that well. According to the latest SEC filing, he is down to only $28 million in the fund. That's down from $212 million in June 01. I'm guessing that he must have lost his biggest customers. "
Quote from lescor:
28 million? That's amazing. When Cramer was still there they were running 400 million. I'm sure there is an interesting story behind the fund and the apparently strained relations between Toddo and Jimbo.
Actually, it probably explains why some of the principals in that hedge fund left...After all, how can you pay these guys their huge salaries and bonusses based on management fees and incentive fees from 28 million...Something definitely went amiss with that fund to go from 400 million to 28 million...Considering the rumored fallout between Cramer and Todd H, one might speculate that he found a way to lure his former investors into his new entity and keep all the fees for himself...Just idle speculation...