Take the time to do something "Joel" this weekend!
When the smoke has cleared, she said
That's what she said to me
Gonna want a bed to lay your head
And a little sympathy
Well Minyans, it's about that time. The horses are rounding the home stretch, the critters are anxiously eyeing the weekend and Fokker is so excited that we're letting him out in public, he hasn't stopped flossing his teeth! Relax kid, you're among friends and a night out with the adults is well deserved. Now sit up straight!
While month-end madness may play with the final say, the action thus far is firmer than a college cheerleader. I know that there's a whole heckuva lotta angst out there (mostly performance anxiety) but take a moment and think clearly. The choices you make in the next few minutes will dictate your weekend risk profile and the last thing you wanna during the next few days is think tape!
The Minx is tickling S&P 965 and NDX 1200 with a goose feather and, if form holds, our technical inflection might be too "cute." I'm a bit torn as I added my lone bear appendage right around here, I've yet to get "stopped out" and, for all intents and purposes, we're at resistance. While I have some defined risk puts "tucked away," my intraday risk was just that -- for the day. When trading, it's important to always remember why you've added exposure as the definition of an investment should never be a trade gone awry. As such, I'll likely take the incremental exposure off the sheets (discipline), remove my leg from the costume and enjoy tonight's escargot in the buff.
Looking forward, Beeks will usher in construction spending (expected at .2%) and the I to the ISM Manufacturing (expected at 48.5) on Monday, take a break, and then come back strong towards the end of the week with the payroll barrage. In the midst of all that, Xilinx (XLNX:Nasdaq) will offer it's mid-quarter update, Smith Barney has it's semiconductor fete, Deutsche Bank will host an internet/new media party and CS First Boston has an oil/gas thang.
Next week will also usher in a new era as Fleck, Scotto, Succ, Kevin, Jason and Waxy edge into the Minyanville mix. It's a humbling experience when guys like that join an effor like this and I'm thrilled that they're gonna share their news and views with us. Join me in welcoming them to our family as we continue our educational and philanthropic efforts here in the city of critters. Wasabi!
Have a peaceful weekend and fare ye well.
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 firstname.lastname@example.org.
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