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Expiration Is Driving Down the Prices

By Jim Cramer

 About this article:
 We see a lot of option pressure today exacerbating the profit-taking. But more worrisome to the seasoned players is the speculation, rampant speculation, in Citigroup , AIG , and Fannie and Freddie . These are reaches that frightened people who have traded for years because they are signs of froth, and froth means the end of the move for now. I refer to my earlier piece about the troika and the need to maintain all of the leaders, and I am worried about the financials being maintained -- the Geithner dilemma. So, what does it come to? I think it means Profit-taking is going to prevail today. The financial rally could continue but not now. The underpinnings of the moment are being undercut by the tremendous decline in the Johnson & Johnson / Procter & Gamble cohort, which proliferate in the averages. Expiration woes will play havoc...

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