As it turns out, the mystery of Thursday's sudden ramp up in volume and price action wasn't such a mystery at all. A quick look at the calendar confirms that today was the third Friday of the month, the day of stock options expiration.
Mystery solved.
Rather than bore readers with an explanation of how stocks played Friday in the usual "dead summer" manner, we leave with a few ripened Beatles tunes.
Enjoy the weekend!
For anybody in particular:
Dow 13,275.20, +25.09 (0.19%)
NASDAQ 3,076.59, +14.20 (0.46%)
S&P 500 1,418.16, +2.65 (0.19%)
NYSE Composite 8,102.07, +12.07 (0.15%)
NASDAQ Volume 1,644,206,500
NYSE Volume 2,910,906,000
Combined NYSE & NASDAQ Advance - Decline: 3463-2003
Combined NYSE & NASDAQ New highs - New lows: 283-38
WTI crude oil: 96.01, +0.41
Gold: 1,619.40, +0.20
Silver: 28.00, -0.21
Friday, August 17, 2012
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