Offsides

Everybody wants you to be special
And everybody wants you to be high
They throw you down a rope when you're in trouble, baby
Screamin' "Save me"
Then they charge you with the rescue blues
--Ryan Adams

With battle lines drawn at SPX 2000, Hoofy' Heroes once again appeared snatch victory out of the mouth of defeat with a Thursday route of Boo's Crew.

Unfortunately, this may have been a fleeting flurry of short covering and window dressing because, when the dust settled after Friday's heavy close, the bulls find themselves south of the SPX 2000 maginot.

Bears will be looking for follow thru next week--something that they have not been able to do for a long time.

One thing is certain: intraday volatility is picking up. Suggests that the tape is trying to throw off demons at the current level in order to charge deeper into either bull or bear territory.

position in SPX