A Minyan Boon!
Watch BKX 800 please!
Otter: He can't do that to our pledges.
Boon: Only we can do that to our pledges!
While Charlotte-Anne and Fokker round up the morning news, I wanted to get a quick blip out to my fellow Minyans. First things first, monitor NDX 1100, Dow 8450 and S&P 910 out of the gate. They're the first levels of support and it's where the bulls will attempt to toe the line. Secondly, Construction Spending (exp. .2%) and the I to the ISM Manufacturing numbers (exp. 47.2, prices paid 65) are due at 10 a.m. and, after this morning's marginally soft data, they'll be a focus.
The tone of the tape has been fabu and while I appreciate and respect the upside, I've got one leg in the fur and will trade 'em that way. If I sense jig, I'll rent ( buy to sell) some exposure and manage my risk. I still, however, want to own downsides as vols are at attractive levels (yes, I still think so).
Finally, THANK YOU to all the kind Minyans who've offered their early morning snaps. It's important to note that the University of Minyanville will be offered FREE as it's our vision to educate and we want it to be inclusive. If you'd like to show your support for the cause, we'd greatly appreciate if you'd swing by Main Street and check out the kick ass fleeces, coolio tees, snazzy artwork or delicious cookies. The products are great and it'll help us expand into new areas of learning and growth. THANKS!
Have a fantastic day!
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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