The collision of global markets and social mood

Friday, August 15, 2014

Expiration Friday

Not much to add. 1965-1967 is still valid, and so is the gap at 1970.07. It's option expiration today, so anything can happen. The stop remains 1928.29.

Yesterday's NYSE volume was below the previous day's, which was 63% less than the July 31st downdraft. In my opinion, should a new high occur from the current rally, it should be sold aggressively.

Elsewhere, a once-crashed Ferrari GTO just set an auction record at $38 million. Another sign of ebullient social mood.

Mine is not so ebullient today. Heading to a memorial service for the mom of one of my college roommates. Sad stuff.

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