http://www.financialsense.com/Market/wrapup.htm

Tim Wood is a smart cat.......................

Maybe the MMs cut a deal with RBC.  RBC clears their SPX 1150 options yesterday and the MMS get the SPY 112.0 at the close today...... big money moves the market whare they want the market to go....  It will all be clear by 1600 hours today.

Rumour has it Obama will announce some kinda trading transaction tax..... could move the markets...... Wall street tends to make it clear when they are unhappy with the Prez.................

I'm not a serious option trader but, I think what ZeroHedge is saying is that there are a few major players, or maybe only RBS with an open position of calls at the strike price SPX 1150.  Their call position is most of the 65k of open interest"  these players do not care about max pain which is a subject of concern for the market makers (broker/dealers).  Only their own self interest.........................

Total of ~$7.5 bln in notional exposure.....Sounds like the someones with that kind of potential written call loss liability will have a serious interest in seeing a minimum of 1150 on the SPX at options expiration time.  It's like maximum option pain, minimization of total dollar expenditure to clear the open liabilities.......

Why we are likely hours away from S&P 1,150: Commentary from RBS Derivatives (alternatively, just more book pushing by the Scottish bank which has about 4 traders left):

"SPX 1150 calls has 65k of open interest - majority of these bought were by customers at end of 2009/early 2010. Total of ~$7.5 bln in notional exposure at that strike. If street is short (sounds like they are), it translates to roughly $200mln in index futures to buy for every $1 move in the futures, and it accelerates as futures move higher. With expiration for SPX coming Friday Morning, 1150 line is going to act like a magnet as the closer we get, the more broker-dealers are going to have to buy.All sets us up for a potential rip thru that level should SPX cash test it"

Let the great unwind commence, I suspect that the global intelligencia have moved well over to the short side of the ledger.  Let the games begin!

It also looks to be almost exactly 100 pts.  Maybe one of the HFT boxes fat fingered a 1046 instead of 1146 on a big sell order............ :)

I know there are more boats coming on line so the supply is increasing and all that.   And the S&P hasn't conformed this time YET but, I think everyone here knows why that might be.  In any case, the pattern is pretty much unmistakable...... 

http://stockcharts.com/h-sc/ui?s=$BDI&p=D&yr=7&mn=1&dy=0&id=p77253562558&a=185651014

Maybe but don't forget GDX might want to be slightly below $47 by the close on Friday................................

http://www.optionpain.com/MaxPain/Max-Pain.php

http://www.zerohedge.com/article/316000-nfp-print-friday-bls-seasonal-fudge-factors-make-it-very-likely

ZeroHedge got up on the other side of the bed today

So, statistically speaking.... It's all downhill from here to at least the middle of Jan.  Maybe that explains SRS holding up in the face of SPX strength....

It trades here on the pinks too.  WLCDF.PK  

Quote from the article.......  Sounds like the US is acting like an emerging-market to me...................................

"Meanwhile, needing to squeeze someone, most emerging-market governments look first to ordinary working folk—at least until the riots grow too large."

Oh yeah,  up up and away.  Mystery money buying the  S&P futures in after hours will never end......

correct link to article

article

So I went and looked at the component list for  the $DJUSRE and I didn't fine any of those you listed  in the top 10.  That index was indeed down for the day.  I guess the down grades set the tone for all the REITS in the index...  cheers.