Fare ye well!
Now the race is on and here comes pride up the back stretch
Heartaches a goin' to the inside
My tears are holding back
Tryin' not to fall
The Minx jumps as the bovine humps and bears take a few more lumps. I could have sworn that I saw a billboard advertising 16,000 futures to buy into today's bell while strollin' to work this morning. It was the most telegraphed catalyst since, well, since the electoral clarity trade (and we know what happened then). Still, the hedge fund hot potato is in full effect and it'll be more than interesting to see how the next few sessions pan out.
As I scribe my final vibe, I'm watching a rather meaty reversal unfold in the nets and nuts. Granted, by the time I actually hit the 'send' button on this article, it may be a moot point but it underscores the risk at current levels. I liken this juncture to an upside down bungee chord that is being stretched by our collective imagination. It can expand further, we know, but I sense that the wind has shifted in the near-term. Instead of getting blown in the back, the bulls must now put their heads down and rally despite the overbought condition.
I'm gonna keep this column short and sweet as the flickering ticks are starting to go haywire. Please remember that we're pixels away from important multi-year levels in both the S's and N's and there are a host of "unknowns" floating around. We've got the Microsoft (MSFT:NASD) residue, Aunt Fannie's honeydew and a noticeable lack of friends for Boo. That may not be today's business--and it may not be tomorrow's either--but it warrants some consideration as we craft our weekend profiles.
I'm sure you're jammy so I'll letcha run. I sincerely hope you all had a great week and that you have a more fantastic weekend. Work to live--don't live to work--and spend the next few days thinking about anything but the ticks. It'll serve to balance your perspective and it'll surely serve us all in good stead as we power up this minxy pup in 66 short hours.
May peace be with you.
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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