The usual Friday burlesque has gotten off to an early start, with the mini-indexes in freefall Thursday night. There was a time when Wall Street might have celebrated the reluctance of Congress to throw so much more good many after bad. This time, however, it is bitter disappointment that we are meant to infer. But would it be so terrible if GM did not live to produce a subsidized $60,000 compact that runs 40 miles before needing a six-hour recharge? In any event, the S&Ps as of 11:30 p.m. EST had discounted a 400-point drop in the Dow on the opening. Seems a little overdone by DaBoyz, but presumably with the intention of exhausting sellers to set up a short squeeze. Night owls can try bottom-fishing at 821.75 with a stop-loss as tight as 820.75. The target comes off the 5-minute chart reproduced alongside. Please note, however, that there’s an alternative target at 819.50 that would become my minimum downside objective if the stop is hit. Buying at the lower number would be the more conservative play, but that could cause you to miss a more promising bounce from the higher number. If both get obliterated, the next stop would be 806.75, a Hidden Pivot that could be bought with a stop-loss as tight as 1.00 point. _______ UPDATE: The futures went no lower than 829.00 overnight, when the apparent exhaustion of sellers cleared the way for a short-squeeze on Friday. Through it all, the grautitous ups and downs left intact a 969.25 rally target first identified here more than a week ago.