Today was triple witching Friday, the day when stock options, index options and stock index futures all expire. What does this mean going forward?
The volatility index suggests that over the next few months investors should expect the highs and lows of each day to extend out by 10% -15% says Jon Najarian on CNBC’s “Closing Bell”. A regular day’s move in the Dow could be 190 to 200 points. And it could be in either direction.
Also the volatility index suggests that the financials could outperform in the first 3 months of ’08, he adds. I recommend buying bank stocks or getting long the .
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Trader disclosure: On Dec. 21, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (EMC), (ATVI), (INTC); Finerman's Firm Owns (YHOO), (GS); Finerman's Firm Is Short (IYR), (IJR), (IWM), (SPY); Finerman's Firm Owns (MDY) Puts; Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts And Is Short The Russell 2000; Finerman's Firm Owns (MBI) Puts; Najarian Owns (C), (ETFC), (MS), (MSFT); Najarian Owns (YHOO) Options, (ANR) Options, (EMC) Options; Seymour Owns (AAPL), (BLK), (CFC), (INTC), (MER), (MSFT), (YHOO); Seygem Asset Management Owns (MOS), (EEM)