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Saving Private Hoofy

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Good morning and welcome back to the war of Wall Street. When we last communicated, technical lines were drawn in the sand and traders engaged in a spirited battle for the beachhead. After a two day cease-fire, the opposing forces have now reloaded and will enter this week with dry powder and hopes of advancement. Will Hoofy's green berets rebound and continue their upward assault or will Boo's team of seals slide down the slippery slope? Our mission will begin at 0-nine hundred, so pack up your gear Bravo Company- we're moving out.

Sergeant Tush of the international squadron radioed in to report that our allies across the pond have taken a minor hit. Japan reported the most casualties, having gotten clipped for 2 ½% worth of damage and is dangerously close to setting a new nineteen year low. Europe, meanwhile, is in the midst of their current conflict and the bourses are being treated for 1% injuries across the board.

From the command center, I continue to weigh the element of surprise and its impact on our profits. My goal is to deploy enough firepower for each battle while leaving ample ammunition to fight the war. General Gekmo once told me that you can pick the direction or you can pick the timing but you'll rarely emerge victorious in both. As such, and regardless of posture, we must appreciate the potential for a counter trend move and ration our risk accordingly.

After the bloody battle of S&P 895, our reconnaissance team tells us that traders will once again be keying off that region. For the tech troops, Friday's decline violated the October uptrend but reinforcements seem to be flanking at NDX 1000 (support). Couple both of these inputs with the mortar shells being lobbed in by the stochastics division and it's clear that landmines (both ways) remain in the landscape.

Scanning the horizon for potential bogies, UBS kicks off their communications conference today (VZ, NT, AWE, LU, QCOM, T, NXTL, ISIL and MOT), Piper will begin their financial fete tomorrow, we have bellwether reports Wednesday and Thursday and November expiration is looming on Friday (that was quick!). In addition, the following week will bring us Lehman Brother's semiconductor conference and that's being circled by fund managers as a show and tell in tech land.

Internal affairs has asked me to debrief you on our pending launch and I will do so later today. First, we must prepare for the task at hand and ready ourselves mentally. The enemies are fear, greed, emotion and complacency-and we cannot let them infiltrate our mindset. A positive outlook is our staunchest ally and we must exercise discipline in the face of temptation. Play to win, soldiers, and take profits not prisoners. If we complete the mission effectively and trade within our means, we'll be back with our families in no time.

Good luck today.
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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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