I am leaving a bit early this evening.
Facebook and Greece are dominating the market, and both in their own ways are contributing to the selling.
The wiseguys see Facebook coming out at around 36-38 and intend to run it up I think to the 60+ are and then dump it for a quick return. So they are raising cash and, gasp, selling even AAPL to do it.
Greece has the markets edgy for all the usual reasons. The status quo does not like it when people stand up to them.
The Open Interest in the precious metals on the Comex is doing some odd things, staying steady or even rising on sell offs. That is not long liquidation yet. It is more of a transfer or ownership and the expansion of 'the big short.'
More on this tomorrow.
