The news continues to flow through the wires with the obvious gorilla being Microsoft. The boys from Redmond clearly beat the street and posted a solid quarter, but they've issued some cautionary comments about the upcoming holiday season. Man...is it that time of year already? Time waits for no critter! Away from Softie, the earnings after the close were disappointing across a variety of tech sub-sectors. Many of these companies are having a hard time seeing the light at the end of the tunnel despite what is a traditionally a seasonally strong period. Man, this is one long tunnel!
Standard & Poors just cut its credit rating on a handful of brokers citing a decline in business. Obviously, with the financials playing such an important role in this past rally, these names will be a focus tomorrow as we find our way through another day. Also, for all you semi-players, the North American semiconductor September Book-to-Bill came in at .84 versus expectations of .95, so that could potentially effect the SOX sentiment tomorrow morning. So you know.
I know it's been a long week, my friends, but we've got one more session before our requisite respite and a weekend full of football. I think Rod Woodson (of my beloved Raiders) summed it up best: "We have 11 more games. If we're going to cry to ourselves and pout and not go play hard and take it out on San Diego, which is in our division, then something's wrong." That's the right attitude, number 26, and the same could be said about stock players. Tomorrows a new day, fresh with opportunity and full of potential-come to work with the right head and ready to play.
In the meantime, take this time to focus on the important stuff and find that elusive balance. We can talk about working to live and not living to work, but unless we practice what we preach, our words are surely empty.
Have a most peaceful night.
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 email@example.com.
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