Options Expiration

Options expiration is finally over and the bulls will most likely take a rest on Monday. Typcailly, the trading day following options expiration is seasonally bearish and when the market is in a very overbought state the probability of a move lower is significantly higher than the norm.

THe VIX lost a little more ground today and is close to closing below 10. We are in historical territory and as I stated yesterday a move lower seems imminent.

As a great man once said: there is a better way for investors to judge the value of investment advice. Instead of looking at what these “experts” promise, look instead at the results they have actually delivered.

In other words, focus on performance, not promises.

I would like to encourage those of you who haven’t had a chance to check out our site to visit us at www.crowderinvestments.com.

RSI Wilder (5) for November 17, 2006

• SPY – 83.7 (very overbought)
• DIA – 80.7 (very overbought)
• IWM – 79.7 (overbought)
• QQQQ – 87.3 (very overbought)

Andrew Crowder, Chief Investment Strategist, www.crowderinvestments.com