No Soup For You!
Who's side are you on anyway?
Just a heads up, Minyans:
The odds of a Snapper cameo are greatly increased as long as the daily low holds in the NDX (1420). That's the level I'm keying on and it's a natural place for day trading stops. While the internets and semis don't "see" it yet, the breadth is slowly trying to gain traction.
Away from that, the rotation out of the master betas (internets) and the brokers continues as drugs and energy hold their bid. For my part, I've taken some profits on my pharma trades and tightened stops on my peripheral exposure. The "trade" got a little too mainstream too quickly for my liking.
I'll be back. Good luck!
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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