Option expiration pressure kept some of the NASDAQ high fliers down, so make some money off of them this week. Apple (AAPL 166.39) should trade to 174, Google (GOOG 633.63) has 20 quick points, Research in Motion (RIMM 107.57) reversed off it's lows Friday and can add 10, and Intuitive Surgical (ISRG 280.65) should trade above 300.
On the big board, Freeport-McMoran (FCX 100.04) was pinned at 100, it can take on 7 points by Tuesday.
After the bell Hewlett Packard (HPQ 50.75) reports earnings, so that should help technology. Microsoft (MSFT 34.09) should be a direct beneficiary of a good report, and the December 35 calls at .68 should be a double.
The rest of the market should benefit from the final touches of the SIV fund, Thanksgiving seasonality and the OPEC currency basket for the dollar. The idea that OPEC isn't "abandoning" the dollar will be a relief, but ironically it's the Canadian dollar that is the currency most poised to rally against the buck, and it can add a couple cents this week.
But the biggest news this week, is the Hannah Montana concert Tuesday night in South Florida.
Or at least that's what my daughter thinks!