The Bangle Tangle
Kisser? I don't even know her!
It's just another manic Monday
I wish it was Sunday
'Cause that's my fun day
My I don't have to run day
It's just another manic Monday
Oh Susanna (Hoffs), don't you cry for me -- I've been trading every rally with a young bear on my knee! Speaking of rallies, Sally, the Minx has sprinted off her starting levels and sprouted green seeds. It was a delayed reaction, of sorts, as the opening chasers had their guts checked before reaping their (uber-early) reward. The upside try was intuitive (after closing on the highs Friday) and now, Mon Frere, we'll see what she's got.
S&P 940 (NDX 1160) is the upper end of the most recent range and should provide the first resistance. BKX 800 is also a focus as the financials are playing pong around that inflection point. The bull will argue that the pullback to BKX 795 was healthy while the bear maintains that they're very extended and vulnerable. Who's right? Both, potentially, and while I remain financially furry, I respect the power of perception.
On the macro front, gold continues to act firmer than a college cheerleader and that, coupled with the dollar, are macro "concerns" for Hoofy. Stateside, networkers are leading the tech charge (Cisco (CSCO:Nasdaq)) while software, as a group, relatively underperforms. The semis are mixed, hardware is firm, biotech are soft and Fokker forgot to shave (copy cat).
In Minyanville news, the critters are anxiously awaiting the arrival of Captain Casey later this week. We've got a lot to discuss, from University updates to Guitar galas, so this promises to be an exciting week. The spirit of Minyanville is thriving as our community continues to expand daily and we've got YOU to thank. That's good stuff, Minyans, and it's mucho appreciated.
As always, I hope this finds you with a smile on your kisser.
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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