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Slow Hand Hoofy

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Lately I've been running on faith
What else can a poor bull do?
But my world will be right
When love comes over Boo


(Eric Clapton)

It's a slow, quiet morning in Minyanville and the only sound in the room is Hoofy's melodic voice singing in the background. He knows, as do we, that anybody worth their weight in trading salt will be focused on NDX 1070ish and S&P 925ish-and if his friends can bully the tape higher, the bears may scramble. With that said, I cautioned the big fella that two seminal technology conferences kicked off today and traders will likely have their fingers on the triggers (both ways). As such, we've gotta stay sharp-Gannon sharp-as we pluck out opportunities.

Across the bay from the Raider Nation, Lehman Brothers will kick off their semiconductor fete and (among others) IFX, MCHP, RFMD, SLR, FLEX, ALTR, AMD, IRF, CHPC, JDSU, CYMI, UMC, MRVL, IM, CNXT, AMCC and HAND will be presenting. Meanwhile, for the night owls among you, COMDEX has begun in Vegas (double down on that hard eight) and Willie Gates (MSFT) has the dice. Once he's done, he'll pass them to Carly (HWP) and Scotto (SUNW) and we'll be watching carefully for any good company specific bets (as well as general themes).

In financial-land, the brokers are in the news again and they'll be the group to key off of. The XBD (broker/dealer index) is bumping it's keppe on the 200-day moving average, which also happens to be a level it's failed at four or five times. The SOX (semiconductors) is also an obvious focus (conference) as well as the best tech thermometer. Peripheral tells today include our Generals (GM and GE), the retailers (LOW and WMT), the Biotechs (pushed this morning), Crude, the Dollar, Bonds and our trusty internals.

While it felt good to relax naked this weekend (without the bear costume, silly), my predication continues to be to fade (read: sell) the technical levels and leg into short-side exposure. I respect the bull camp and their collective mojo (perception is reality) but it's never been my trading nature to jump on a bandwagon (shocker!). Each of us must make decisions based on our respective view and style. Choose a path that's consistent with your particular risk profile (and time horizon) and don't look back-profitability lies in the trades ahead.

In Minyanville news, there are 15 short days until launch and the critters remain hard at work. They're trying to set up toll-free numbers by the end of this week so the good citizens can preorder Passport Packages and Minyanville merchandise for the Holiday season. They've admittedly got a lot on their plate but the rumor mill is abuzz with all kinds of chatter and they assure me that it'll be worth the wait. I, for one, am schvitzing with anticipation!

See you after the opening.

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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