The VIX shot up early on to its 20 dma at 19.60, but dropped at the close just under 18. Op-ex is being felt, as SPX refuses to let go of 1400 for too long. Semis lead, but financials drop (GS pre-open was a clue) as does retail and housing. The TRAN is puzzling, given 125 oil "it's just a flesh wound", to quote the Knight in Monty Python's Holy Grail.
RUT is approaching its 200 ema at 739, and the COMP looks like it wants to get a taste of its 200 dma at 2517. The volume is heavy at the SPX 1400 strike and that could the game: pinning there as close as possible until Thursday's close. ISE equity closed at 193, CBOE at .60. Not many bearish bets out there, which is a relief if you are short, although hopefully you are putting time on your side.
Oil inventories tomorrow at 10:30.
RUT is approaching its 200 ema at 739, and the COMP looks like it wants to get a taste of its 200 dma at 2517. The volume is heavy at the SPX 1400 strike and that could the game: pinning there as close as possible until Thursday's close. ISE equity closed at 193, CBOE at .60. Not many bearish bets out there, which is a relief if you are short, although hopefully you are putting time on your side.
Oil inventories tomorrow at 10:30.
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on Tuesday, May 13, 2008 at 5/13/2008 10:21:00 PM.
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5/13/08 11:05 PMThat's a classic Marc, the knights who say Nih.....indeed, a flesh wound.
5/14/08 12:01 AM
Posted.
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