Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 39.19

+8.3%

Nov 26 4:00 PM EST

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From: bearbyebye	9/1/2009 3:58:49 PM
	Read Replies (2) of 207051

It's a self-fulfilling prophecy. If enough investors believe September will be bad, heck the media has been building this up for weeks, it's going to happen. Is it any coinky dink that the rumor on the NYSE floor today was WFC in big trouble? It's September 1st. Banks are what started the decline last summer. Guys on TV been talking about the heavy put action in WFC all day. If you look back at LEH and BSC when they failed, the put action was way OTM. The heavy put action at WFC is right ATM. If smart money knew there was a problem at WFC the put options would have been huge down around the 10 strike or lower.

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