by Rick Ackerman
Stocks are weaker than they appear. Although the E-Mini S&Ps ended the day only slightly lower, the illusion of stable prices was achieved by levitating them the night before on vaporous volume. Index futures made their highs a little before 5 a.m. when no one was watching. With the 20-point selloff that followed in the E-Minis — equivalent to a Dow loss of about 160 points — the dog-and-pony show produced a net loss of only five points. Such shenanigans could yet continue for another day, since Friday is usually good for a little comic relief. Should we get short ahead of the weekend? Stay tuned to the Rick’s Picks chat room, since, if the opportunity arises, it’s not likely to be overlooked by traders in the room.