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Head Rush!

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Holy Guacamole, I've been doing this for twelve years and I'm not sure I've ever seen a week like this. We've got price swings, sentiment swings, metric swings...heck, we've got more swings than a Lifestyle convention! The irony is, unless you came in set up for the move, you didn't participate in the lion's share of the trade. It's the oldest lesson on Wall Street: risk versus reward. Unless you carried overnight exposure-and the right exposure at that-you're surely frustrated right now.

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 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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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