Today’s tape is CLOSE to meaningless

If I may be so bold as to point out that today is triple-witching Friday. For home gamers, that’s the day when a bunch of rich corporations rape option buyers of all varieties via seemingly dumb, but ultimately wise, purchases of S&P futures contracts.

In other words, the market is being manipulated so that the retail trader ends up with a zero.

Paying attention to today’s tape is like watching the final game of the NFL season, in the hopes of developing a playoff betting strategy.

p.s. Joe Kinahan of thinkorswim will be on CNBC at 1:30 PM ET, discussing this very topic.