James “Rev Shark” DePorre for TheStreet’s RealMonet:
During the last couple weeks of the calendar year, there are always a large number of cross-currents impacting stocks that have little to do with their fundamental prospects. There are tax planning, portfolio moves, and pension plan reallocations that will cause some random movement. Also, there is quarterly option expiration and rebalancing of major indices.
Tomorrow is Quadruple Witching when equity and index, futures and options expire. In addition, there is preliminary additions and deletions to the Russell Indexes as well as rebalancing of the Nasdaq 100, Nasdaq Biotech Index and the S&P 500, 400, and 600… Stocks like Apple (AAPL) and Microsoft (MSFT), which are up big since the last rebalancing, will likely see selling at the close.
MacDailyNews Take: It’s the Freakiest Friday!
