Morning update:
As is fitting for the end of week right before option expiration week, we are gravitating towards the highest open interest volume areas, namely QQQQ 47 and 48. Financials are holding on, given us some support. ISE equity is still up there, but has dropped from the 200 level.
The VIX will have to break out above 20.10 for bears to get any real traction. I was expecting more downside this morning, but the vol is staying low regardless of events. They are pushing for a short squeeze. I just don't see it going very far either. This looks like a lousy Friday for traders.
Watch NQ 1975, 5 dma on any rally.
As is fitting for the end of week right before option expiration week, we are gravitating towards the highest open interest volume areas, namely QQQQ 47 and 48. Financials are holding on, given us some support. ISE equity is still up there, but has dropped from the 200 level.
The VIX will have to break out above 20.10 for bears to get any real traction. I was expecting more downside this morning, but the vol is staying low regardless of events. They are pushing for a short squeeze. I just don't see it going very far either. This looks like a lousy Friday for traders.
Watch NQ 1975, 5 dma on any rally.
This entry was posted
on Friday, May 09, 2008 at 5/09/2008 10:13:00 AM.
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