05 March 2007


Can't take your eyes off those kids for a minute in the overnight trade...every time you turn around...
Nasdaq futures up 10+ points after the close for no apparent reason except that the Nikkei is up 1%...tail wagging the dog? Sounds about right to me as my theory is a gap and run in the morning with shorts squeezing up through yesterday's highs in the 1740 level and handing off the ball to over anxious bulls into that 1755 resistance level that I am suspecting will offer a sweet 20+ point fade. It feels that everything is in fast forward right now with these ever widening ranges. I guess emotion will do that for the market.
If I'm right the futures will be up into the 1730's in the morning and all hell will break loose at the open with manic short covering by the bears and panic buying by the bulls...jfg.

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