A Hedonism Vacation?
Hey Greg, I can honestly say that I had no idea!
Alright--somebody help me with this. Is it spring ahead, fall back or fall ahead, spring back? The early morning string of green is leaning to the latter as pockets get filled and Hoofy gets fatter. As it stands, some of those much discussed 50-day moving averages are back in black and that's shaking the tree (and nerve) of the newbie shorts.
Typically, after a previous day's "outsized" move, the Minx will probe the same direction at a point. We saw it on Monday and, after a successful retest, Snapper got his grove on. We've yet to see that type of testage today and, truth be told, Hoofy would have preferred a little probe (to get it out of the way). While the screens are green, the "straight up" pup raises the specter of an afternoon swoon.
Still, he's not complaining (yet) as the breadth is minty, tenor is Pavarotti and the game is on. Both the S's and N's are thisclose to stochastic buy signals and that has to be added to the trading radar. Scanning the globe, Europe is begrudgingly higher, the dollar is slipping anew and the crude/gold complex is a nonevent. NDX 1330-1335 and S&P 1010ish are the next pockets of potential resistance.
On a lighter note, young Fokker was searching for a quote from Swingers this morning and, sure enough, his search flooded his screens with "alternative lifestyle" sites. Imagine my surprise when I walked by his turret and saw him scanning through....well, let's just say that it looked like a pretty kinky toga party. Dude--get a room!
I'll be back.
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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