That's the goofiest thing I've ever heard!
The Minx edges out of the gate and a new day of sunny fun is upon us. There are a plethora of widely followed tools and gauges available to traders and some have become more reliable than others. With tongue in cheek, I will offer a completely nonsensical barometer that I've stumbled upon: When making my calls around the street this morning (and I must have spoken to 20 traders), there wasn't one person--not one--who thought the market would get hit today.
You can file that away in the "you're goofy" bin but I thought it was an interesting input. The bulls are surely kicking up some sand as they peer upwards at S&P 1010 (1020) and NDX 1300 (1320). With the Dow Jones and Semis already broken out, they're looking to turn the party into an equity orgy. It's all right if you want to get involved, my friends, but please remember to use protection.
Gotta hop and check out the Wolverines. Good luck cookie.
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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