My gut says "Da Boyz" are long calls any may try to goose em...but Monday should be interesting. The wild card is the econ news and if that will cause the MOMOs to head for the exits early....
<The truth is, the current rally is not about an earnings recovery and it is most certainly not about an improvement in the underlying economic state. The rally is about momentum. Now, we could argue all day about the origin of that momentum, but truth be told, the current rally is being driven by speculators trying to force deep-pocketed pension and mutual fund managers to increase exposure to the long side>
(I guess mlsoft would add here that he knows who these speculators are (g))
I won't be around to look at the market most of the day, but my guess is that recent patterns will be sustained, namely some early weakness bottoming before 11:00 and then a slow grind up till the end of the day with a temporary weakness in the 1:30 to 2:45 or so window. To the extent I can, I will launch a lunch tactic before 11:00. If JCOM gets close to $32, I have an order there before that...
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