Snapper: Wasabi Toddo? We're worried about you. I mean, no offense, but look at you! Baggy eyes, disheveled hair, scratchy voice...what gives?
Toddo: Ah, guys...this week is always killer, you know that. Earnings coming out of our ears, gap openings everywhere, vicious price swings...it's just...a lot.
Sammy: We hear you, boss, but take a deep breath...one more day of focus before our requisite two day respite. Hang in there.
Hoofy: (who stopped grinding with Daisy and turned to Boo) How's that rally treating ya, buddy? Nice breadth, clear stair step higher, underinvested funds...it's poifect!
Boo: Nice dance moves, Hoofy...you're a regular Fred Astaire! You might as well get your groove on tonight, 'cause tomorrow you're in for a house of pain. Despite your best efforts today, you couldn't push the tape through our resistance levels. Now you have new longs, less shorts and, outside of Microsoft, virtually all the news after the close was negative. Standard & Poors cut it's rating on a handful of brokers, the September Semiconductor Book-to-Bill came in light and there's fresh evidence of geopolitical risk. Keep drinking!
Sammy: You're right, Boo, but understand how important psychology is right now. If enough people believe we've entered a better period for the market, there will likely be an underlying bid to equities. Also keep an eye on those frisky bonds...they've been on a rip of their own!
Toddo: Guys, let's take it one step at a time, ok? Watch our levels, Microsoft, the Semi's and the financials (banks and brokers)...and keep an eye on the internals...they've been the best intraday tell for the tape.
Daisy: (Grabbing Hoofy's arm and pulling him to the dance floor) Enough work! You have all day tomorrow to stress, use the time outside of the office wisely and find some balance. You're with your friends, we've got Cronin belting out his lyrics and we're healthy. Life is good!
As the "it" couple worked their way through the crowd and towards the stage, the rest of us looked at each other and smiled. Once again, Daisy was right...there was a time to work and a time to play. We enjoyed the rest of our night and got home at a decent hour. It was, after all, expiration Friday and we would need our rest.
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 firstname.lastname@example.org.
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