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Just as it seems the market might finally break its 150-point swing record on this option expiry day. The Dow managed to extend its record during the afternoon trading. If there is any console investors can get, it is the volatility that didn’t rise much during the market’s drop. But this may have something to do with the upcoming holiday week. Warnings from both FedEx and YRC should not be taken lightly as there is an increasing possibility now that the credit market problem may indeed spread to the real economy. One last word: do not trust the market behaviour during the final twenty minutes of today’s trading as that is mostly manipulated due to option expiry related activities. |
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