Market Open

The Nasdaq 100 is opening with a gap higher near yesterday's highs. If it can maintain strength early on, the Q's have a good chance to make some more gains during the day.

I am still watching some small cap stocks waiting for some breakouts.

I am also still long calls on the QQQQ and ALD.

Set to Open Lower

Things appear bearish. The SPY is seeing some pre-market volume to the downside.

The Q's are gaping lowers.

JPM is gaping lower.

I expect this trend to continue, but I am ready to snap up profits on my JPM puts if buyers decide to show up. (I am long OTM Dec Puts).

There seems to be nothing out there to stimulate the economy, certainly not the government, and economic news continues to slowly become more pessimistic, pirates certainly don't help matters. Hang on, because it's going to be another choppy day.

Pre-Market Activity

The pre-market activity has been interesting: dropping below 28.00 almost down 1% and then back up to positive territory up 0.5%.

Futures are still lower. It looks like things will open higher though.

Both HPQ and YHOO are opening higher after adjusting earning and CEO stepping down, respectively. HPQ is up quite a generous amount--15% and climbing.

In other words, this could make for an interesting day.

Pre-Market

Pre-market points to a lower open, despite the fact futures are up a hair. The Q's found support yesterday at 29.80 area and rallied to end down a modest amount. The trend is still down, and I don't have reason to believe otherwise; it still looks like it wants to test the prior low support near 28.

I opened a global trading account with E*Trade last week, but I haven't funded it. It's there just in case, though.