The Zone Diet
I hate acne!
I can tell your future
Look what's in your hand
But I can't stop for nothing
I'm just playing in the band
The morning fray is underway as we trade our way through another day. At the risk of mastering the obvious, the levels du jour are fairly straightforward. S&P 1062 is the upside inflection point and, if breached, it would become near-term support. On the downside, S&P 1044 -1050 is support and sell side interest would likely intensify below.
Keep half an eye out for the Wolverine confidence number at 9:50 (exp. 91.4) as the last data point of the week. After that, we'll be left to our own devices as we weigh the potential acne vs. the potential for crowded (and trapped) longs. As it stands, out of the gate, I've seen a chunk of Nazzy futures to buy (on a cover). Deep breath, Minyans, and let's get this party started right.
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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