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March 3, 2006
"Leaking into the close" MarkM?, Fri., Mar. 3, 2006, 4:05 PM
MarkM observed the weakness going into the close this week, but I would not call it "leakage". In water terms, it was more like a flood.
AXP, BA, C, HON, HPQ, IBM, JNJ, and UTX all seemed to get hit with sell orders about the same time -- at 2pm or just prior to that.
I wonder if the options traders saw big things happening in the put contracts for these stocks just prior to the market collapse? If so, that's called "front-running" and is illegal.
But, I guess the only way Mom & Pop is going to know is if the SEC allows the public to audit the books.
Maybe that's what we need? -- an auditing ombudsman.
Posted by Posted by Bill Cara on March 3, 2006 04:09:41 PM | Category: Cara Today in the Market
Discourse
Is it possible that this story also had something to do with the late sell-off? The timing was about right.
"The leader of the militant Palestinian group Hamas rejected pressure to soften hostility to Israel . . ."
Posted by: ToddL ![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
March 3, 2006 6:06 PM [link]
stockman-
Ritholtz, who was spot on with the November rally call, is calling for a S/T rally here of 5-7% and is buying SMH, QQQQ and SPY calls. Man, I'd like to have those cajones but I look at the charts and I just can't SEE it.
Posted by: MarkM at
March 6, 2006 3:34 PM [link]
Bill:
Two reasons for the sell-off.
The S&P 500 hit major resistance around 1297. Bush also will be in Pakistan over the weekend(very risky! imo). I don't have a good feeling about the President of the United States, being in Pakistan.
Posted by: ragingtrader![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
March 3, 2006 5:36 PM [link]