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Afternoon Snack


We are two days away from Friday's triple witch and the indexes, mainly the S&P and NDX, are trading around big levels where there appears to be huge open interest. I would guess that we are going to be range bound until after Friday due to this fact.

Away from that I see the retailers (Best Buy (BBY: NYSE) are getting a much-needed bounce and some XOI stocks (Amex Oil) are acting great as well. I am sticking to my plan of staying away from unnecessary risk as it is becoming clear that the end of the year is going to be super slow.

Stocks are whipping around left and right and a lot of issues that have been under pressure recently are beginning to lift. Disk Drives are showing strength (Seagate (STX: NYSE), Maxtor (MXO: NYSE), Western Dig (WDC: NYSE)), SanDisk (SNDK: NASD) is lifting, Silicon Labs (SLAB: NASD) is holding its ground, and the aforementioned retailers act well.

With some beaten down names reversing, is this a change in trend? One day does not answer that question but at least we have a new trend to be on the lookout for in the coming days.
No positions in stocks mentioned.

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