The Cubes (NASDAQ: QQQQ): 6:50 AM NYC time: Just a quick post to note day one of a rally attempt, the second one since the global decline started making headlines. The rally attempt comes well below the 200-day EMA for the Cubes, but above the 200-day for the Diamonds (AMEX: DIA), and right on the 200-day EMA for the Spiders (AMEX: SPY), Mid-Cap Spiders (AMEX: MDY) and iShares Russell 2000 Index (AMEX: IWM). See charts, below.
A friend emailed this to me:
Special Bulletin from the Pentagon:
The Pentagon announced today the formation of a new 500-man elite fighting unit called the United States Redneck Special Forces. Before parachuting into Iraq, these boys were given only the following facts about terrorists:
1. The season opened today.
2. There is no limit.
3. They taste just like chicken.
4. They don’t like beer, pickups, country music or Jesus.
5. They are DIRECTLY RESPONSIBLE for the death of Dale Earnhardt.
6. Their favorite movie is “BROKEBACK MOUNTAIN.”
We expect the problem in Iraq to be over by Friday.