Thursday, October 18, 2007

Equity Market Comment - 10/18/07

The market action was not as volatile as I thought it would be, but overall I think the market behaved pretty much along our expectations.
This lack of volatility today, should lead to an increase in volatility on the actual option expiration day Friday.

The daily price pattern is calling for lower prices on Friday and maybe sharply lower.

Look to sell any early strength as it looks like that might be the direction of choice over the first half hour. Take all of this with a grain of salt also as this is going to be option expiration and anything can happen!

The chart below is very interesting and quite rare for that matter. Tuck it away in your archives as a reference tool for the future!


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