This was a quiet quadwitching for markets especially given the end of yet another volatile week. There was little in the way of economic data. Earnings news featured a positive report from FedEx (FDX) which stated holiday shopping has provided a large boost to its business. (It's still just once a year right?) Nevertheless the company stated Asian business was slowing which was little noticed. Maybe FedEx and UPS can just buy the remains of the postal system, but then again, why should they? I'd speculate that uneventful expirations have more to do with the dominance of HFTs (High Frequency Trading) where focus on quadwitching and other expirations aren't as meaningful to the HAL 9000s dominating conditions. It's just a speculation on my part. Zynga (ZNYG) went public today and the stock briefly rose above the offered price but settled slightly lower. CEO Mark Pincus stated, "Our approach has always been to focus on the long-term." Sure, but he's sure grateful to have cashed-in some of his chips while he could. Gold reversed course rising and the dollar/euro relationship was little changed. Most commodity prices were higher while bond prices settled higher as well. Stocks were generally lower across the board, and I admit, there's some confusion with quotes showing some markets higher than where some quote vendors have things. There is a dividend not as yet posted which accounts for the difference as the price is adjusted lower to reflect it Volume was typical for recent periods and breadth per the WSJ was positive overall. You can follow our pithy comments on twitter and join the banter with me on facebook. SPY - The SPDR® S&P 500® ETF is a fund that, before expenses, generally corresponds to the price and yield performance of the S&P 500 Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
See more details IWM - The iShares Russell 2000 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the small capitalization sector of the U.S. equity market as represented by the Russell 2000 Index. The index represents the approximately 2,000 smallest companies in the Russell 3000 Index.
See more details QQQ - PowerShares Capital Management LLC is passionate about our goal of delivering the highest quality investment management available through one of the more benefit-rich investment vehicles ever created, the exchange-traded fund.PowerShares QQQ¿, formerly known as "QQQ" or the "NASDAQ- 100 Index Tracking Stock®", is an exchange-traded fund based on the Nasdaq-100 Index®. The Fund will, under most circumstances, consists of all of stocks in the Index. The Index includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization. The portfolio is rebalanced quarterly and reconstituted annually.
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