Thursday, December 27, 2007


The assassination today put some real turmoil in the markets. Early on it looked like the Qs might actually hold it together, but the downward momentum was just too great. Checking over the NAZ100 components I was amused to see that about 85 of the components were negative and the only real strength was in AAPL and AMZN. Once AAPL started down the swoon was inevitable. Once again the volume was subdued. . .67M for today's count. I suspect we would have been looking at an S3 or lower finish if the volume players had joined in. We've seen these little hooks at the end before. . .typically they can't be relied upon to predict next day opens.
I'm currently flat, having covered the calls I sold yesterday.

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