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Dave Fry's Market Comments for July 17
By: Dave Fry   Thursday, July 17, 2008 6:45 PM
Sectors: Finance , Index

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The squeeze continues and options expiration beginning tomorrow is playing a much bigger role than most might suspect. From past experience as an options principal and under these conditions, floor brokers are hunting down options strike prices like we should be bin Laden. It’s a “seek and destroy mission” and these guys are having a field day. Naturally they’re being abetted by our government with direct market and indirect interference to buy stock with your tax dollars. They’re succeeding in their socialization free markets. And, by the way, shouldn’t we have Chucky Schumer lead a congressional investigation into short selling of crude oil?

Nevertheless the squeeze continues and short sellers are being punished “for now”.

It may be Yahoo is working on their data presentation to the extent that volume data for the NYSE has been flipped. Yikes! One would assume WSJ data is correct.
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