Morning update:
Classic pre-option expiration Thursday as they drive stocks down in order to sell November puts to those who panic at lows. They will most likely expire worthless next week. It's scary this time around because of the sheer force of the drop. But with ES 4% away from its 20 dma, it's time to buy, or at least start nibbling. Techs are in bad shape, but note NQ support at 2143.25, which is 23.6% off October lows (chart). Small caps are up as well as financials (XLF).
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on Thursday, November 08, 2007 at 11/08/2007 11:05:00 AM.
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