Friday Outlook: Quad Witching

Bulls seemed very confident and their clamor, “the bottom’s in,” has been hard to miss or avoid. But, like our penguin friend above, bears tripped bulls up today and yesterday. While we may still rally some into the end of the year, it seems more likely we just slosh around.

Today could’ve been just some options related games Da Boyz were playing with strike prices. It’s what they do.

One thing noted yesterday was the Treasury bond bubble sends a very serious message that economic conditions are bad with no reversal in sight. The Fed’s aggressive move on Tuesday suggests a similar message: conditions are so bad that fear should be just as likely an investor reaction versus the initial optimism it received.

But, it’s quad witching that began at the close today with most settlements tomorrow. A lot of weird trading can still occur.

Volume was similar to yesterday while breadth was as negative as you would expect as our man in Geneva reports in:































































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