A Quick Thought
You're not getting through these levels the first time!
NDX 980 and S&P 840 are THE levels to watch on the upside--they'll tell the tale. There is also 'some' resistance at S&P 845ish but, according to Tom and Watson (not Tom Watson), S&P 840 is the triple bottom and the level of contention.
I'd be lying if I told you I wasn't a tad nervous for Hoofy last night--we live in a troubled world--and I still subscribe to the Shim Sham. I'm just playing the cutesy upside schnitzel before the rest of the Shim (potentially) plays out. My sense was that the shorties got a bit too comfy and, in a bear market, nobody's allowed to be comfy!
Hopping to the opening--pun intended! Good luck, cookie--hit 'em hard!
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 email@example.com.
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