Tuesday, October 17, 2006


Well...it was an interesting day today. Fire sale in the AM them some people came in and bought the dip. Interesting to me was the broker space where MER had giant earningss and the stock traded down. Good news -> stock down in quite a change from the Any News->stock up performance. The attached chart MER shows the ridiculous performance ofthe stock over the past few weeks and what it did when it blew out earnings. Sell the news? mabye. Probably no one expecting different after brokers have been out crushing it for a while. Lots of trades from lots of hedgies crappin the bed. That = lots o' commission.

It seems like the market is going to trend a bit sideways at least into earnings.1375/1385 in the SP is a major level for the derivs world so there is some pink risk into expiration friday and I think the market will shift to earnings over the next week or so. Then, the all mighty elections.


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