The Bad Guys Got The Nod First In YHOO…
The
big news of the day has been Yahoo
(
YHOO |
Quote |
Chart |
News |
PowerRating),
but there has been little real opportunity since shares opened, as they are
trading near session lows (12:15 pm CST). The 22% slide for the Santa
Clara, Calif.-based company hasn’t been nearly as disconcerting as the
obviousness of the rigged market that existed until the Nasdaq shut down
trading yesterday morning.
Let’s
be real here, the Nasdaq shut them down because when they were queried about
pending news, YHOO must have said, “Yeah, we’re going to say something
after the close.†I guess some “friends and family†got wind of that
pending announcement, as the action during the seven minutes it was available
for trading yesterday was one big sell order after another. It’s hard to
imagine a better example of why the SEC enacted Reg FD (Full Disclosure), as
this sort of thing really reeks of insider knowledge lining the pockets of the
lucky few.
Our
dollar-weighted option-tracking systems are kicking out bullish readings in
INTC, MO, GMST and BRCD. We highlighted the action in Brocade
(
BRCD |
Quote |
Chart |
News |
PowerRating) because while the stock is down $4 3/8, the calls are seeing some
pretty frenzied action. We’ve seen 2000 lots of the March 35 calls go up on
the PCX and 5000 lots of the same series go up on the AMEX. Since Brocade is
in the battered Storage Area Network sector, it’s understandable that it is
under siege, but the action in the calls may signal better times are on the
way.
|
|
Call
|
Put
|
$W
|
$W
|
|
Symbol
|
Volume
|
Volume
|
Call
|
Put
|
|
INTC
|
79,767
|
15,726
|
182,377
|
85,856
|
|
MO
|
14,523
|
2,558
|
60,203
|
4,360
|
|
GMST
|
6,724
|
594
|
35,847
|
1,509
|
|
BRCD
|
20,831
|
955
|
40,386
|
3,754
|
(1010WallStreet.com
has licensed the use of Hamzei Analytics proprietary options analytics)