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Quick Trading Snips

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Watch the financials -- they'll tell the tale!

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  • Keep an eye on the drug sector, both as a rotation play and from a technical standpoint.

  • The early tone, with the exception of the semicaps, is firm. Remember, though, the first half hour is always "noisy."

  • The "vols" in the GSEs (government-sponsored enterprises) are getting pumped.

  • The quickest way to lose money is to trade "not to lose." Define your horizon, map out a strategy and don't trade reactively.

  • We're seeing size call buying in Microsoft (MSFT:Nasdaq) (again).

  • An alternate (bullish) scenario to this morning's thought process is that the "blow off" has one more manic phase. If (big if) that happens, S&P 1040 is a potential target. Either way, I continue to sense that our yearly high is seen this summer.

  • John Succo has some good thoughts on the way regarding the derivative discussion.

  • I've got one leg in the fur (25% conviction on the short side). I am balancing my view that a sharper "correction" is coming vs. the potential push ups into quarter end. Hence, trading a lil' "in between."

  • S&P 965 is a marginal support, S&P 950 is a big support.

  • 1 million XLF (financial spdrs) just hit the tape on the sell-side.
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