Quck Trading Snippets
Watch those financials for signs of traction/slippage.
- This morning's Freddie Mac (FRE:NYSE) news will test a VERY extended financial complex. Watch these names for signs of traction/slippage. An ability to "look past" this news would be most impressive.
- S&P 980ish is the first support on the big board. S&P 950 is a more important level.
- The biotechs and housing stocks were downside tells on Friday. Watch 'em today.
- The holder of 130,000 QQQ calls booted them late Friday.
- Europe is hanging down about 1% across the board.
- Monitor the breadth during rally attempts to see if the underlying tone is improving.
- N's over S's.
- This first half hour of any trading day is typically very "noisy." Watch for a truer tenor of the tape to now emerge.
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