Swimming with Sharks

by Rick Ackerman

Index futures have opened Sunday night with a cute little gurgle, sort of like a tiny bubbly sound emitting from the mouth of a great white shark. This is usually a continuation sign if the broad averages were trading higher at the bell on Friday, as they were. Absent any interesting news developments tonight, I’ll be looking for more upside, although no particular strength, as the new week begins. That means any or all of the rally targets I’ve proffered for the E-mini S&Ps, QQQs or DIA could potentially be shortable — the more aggressively if you’re reversing out of a profitable long position.

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