Wax on and Wax off for option expiration.
The Risk Trade was On today on words from the Fed's Yellen amongst others hinting at a new round of QE3 from the Fed. Expectations are high that Europe will bail out its banks via the PIGS sovereign debts, in the manner that the US bailed out the Wall Street banks both directly, and indirectly via AIG.
If you have Level II trading you may notice that whenever you post a bid you could be getting a lot of fast company depending on the size of it. At least this is my experience and it is becoming increasingly annoying. Today I was posting bids and asks of between 1000 to 5000 shares, just to see the kind of shenanigans from the various exchanges, and in dull stocks!
If this thing gets going to the downside it could be quite the spectacle. But Benny and the Boyz are in there bailing out the banks, make no mistake about it. Wall Street is Job One.
See you Sunday night. Here we go again.
