The stock market is surging again. Gains sit at over 10% in the last week. This euphoric move in the markets has been on continued talk about a European bank recapitalization plan. This plan is said to mirror TARP in the U.S in 2008. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $118.97, +3.26 (+2.82%. Just last Tuesday, the SPY hit a low of $107.43.

We all witnessed the massive late day rally yesterday into the close. The Dow Jones Industrial Average surged higher by nearly 400.00 points in the final 45 minutes before the close at the New York Stock Exchange. The late day surge caused many traders to cover their short positions.

What: Shares of embattled photography company Eastman Kodak (NYSE: EK) plummeted 24% on Monday after borrowing $160 million against its credit line for "general corporate purposes."

Hopefully many traders and investors know that this Friday is options expiration. Often during the trading week leading up to the expiration there will be a lot of games being played by the large institutional trading desks. You see, this is a time when the small retail options traders will most likely be shaken out of their near term options position.