Good morning. What could have and perhaps should have been a quiet Monday of a holiday week turned out to be anything but as the bears smelled blood in the early going yesterday. With traders continuing to fret over the possibility that spiking bond yields could wreak havoc on a growing number of nations and the television screens sporting shots of FBI raids on hedge funds offices in New York, it looked like the Bears were going to get something going.
What made this bearish opportunity more important were the facts that (a) pre-market trading had been to the upside in response to the Sunday announcement that Ireland had finally agreed to get some help in backstopping its state-run banks and (b) this was supposed to be a quiet week. But instead of the usual modest move higher on light trading into the Thanksgiving Holiday, traders decided to sell first and ask questions later in the early going.
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MAXIMUS MANTECH INTERNATIONAL MANHATTAN ASSOCIATES LSI LINEAR TECHNOLOGY
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