fpastandard_poors_03201-300x168Since election day, the S&P 500 is down about 3.8%.  From the September 14 high, the S&P 500 is down about 7%.  About 29% of the index is trading above the 50-day moving average.  Stocks trading above their 10-day moving average is roughly 20%.  This indicates a slightly oversold condition.

In Finisar (FNSR), there was a buyer almost 8,000 Dec 11 puts.  The stock is at a double bottom.  The company is expected to report earnings on November 28.   In Applied Materials (AMAT), there was a buyer of 11,000 Nov 10 puts.  The company reports earnings on Nov 15 after the market close.   In Level 3 Communications (LVLT), there was a buyer of 6500 Jan 2013 27 calls.  With the stock trading at about $19, this is a long-term bullish call.

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