Quadruple witching whacked the shorts just when they thought they had it made. Seems OPEX players wanted to pin NDX 1600 and they did. Somebody did not want to pay out those puts. YM short at 10708 is still alive, we will see what Monday brings, although I doubt bulls will press on much more ahead of the Feds. What is now pretty much guaranteed is a .25 rate hike. The equity rally took care of that, alleviating any second thoughts Greenspan might have had. With yields rising every day and more to come, pressure will mount on equities, especially slow growing big caps.
This entry was posted
on Friday, September 16, 2005 at 4:47 PM.
