Some good news about why Friday could turn out OK: There's massive put-buying on the semiconductors and the QQQs (AMEX:QQQ - News). If we don't get a really negative scenario, meaning bad news from Intel (NasdaqNM:INTC - News) and a bad employment number (and I've written about what bad means) we could see an initial decline and then a snapback rally as all of these put positions get unwound.
Understand that we haven't seen enough put activity to matter yet. But at this pace, I have to tell you that we certainly are going to have a trampoline underneath, especially in tech, in time for late morning action Friday.
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