Today’s weakness strongly suggests the futures will have to move lower before DaBoyz can goose stocks into yet another short-squeeze parabola. My hunch is that the best buying opportunity we’ll see will come in the form of a ‘counterintuitive’ trade. In the accompanying chart, I’ve sketched two hypothetical examples (ignoring a minor ‘Pontiac/Oldsmobile’ low that sits between them). If the trade triggers in the final hour, I’d suggest hanging back until a better opportunity comes along next week. A long from the lower ‘A’ will probably enjoy better odds, since the possibility of its being breached will inspire more fear among traders. _______ UPDATE (April 10, 11:19 p.m. ET): Friday’s gratuitous hump left my outlook unchanged.
