Fundamental Truth No. 1 is, "Anything can happen." That's even more true today. Nobody knows for sure how the market is going to react to yesterday's mass power failure. So far the pre-trading looks pretty steady. But we'll know a lot more after the opening. Also, today is option expiration day. It could be an unusually strange session.

Larry

Hey Larry, if the institutional guys are already selling the market, the blackout could stop the little guy from buying today.

It is things like this that may lower their confidence in the markets as a whole.

I don't know if we'll break thru support levels or not, but it could be interesting.

I have no idea how the options expiring today will effect the market though??

Should be an interesting day though!

Matt,

It looks like volume will be very low (of course, it has been all week anyway). Some exchanges are closing early. Option expiration usually just causes a certain amount of erratic price action as traders even out positions. It's a good day to not pay much attention to whatever happens.

Larry

Looks like a possible 2b reversal in $gold broke previous high of 367.70 with a high today of 368.80 and closed below 367.50. It looks like monday will decide the outcome?

Could be, Heath. But I think you're looking at figures from yesterday. StockCharts.com is a day late on $gold.

Larry

Heath, the chart has been updated through the 15th now. You're right. It very much is a possible 2B.

Larry

I was quite confident that the blackout was causing some of my stocks to drop dramatically so I bought more shares at the end of friday figuring that the electricians would fix things in time for my monday morning profits... Is it commonly accepted to think this way or was I just lucky?

Thanks,
Tony

Tony,

I would say that if you made money because you thought "the electricians would fix things in time for my monday morning profits" you were very lucky.

Larry