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Strategies & Market Trends : Sharck Soup

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To: Rambi who wrote (15516)	4/9/2001 5:59:26 PM
From: velociraptor_	Read Replies (2) of 37746

That's what happens when you get into corrective periods and this one has been particularly volatile. It might be prudent to start rolling over into May options to avoid premium decay. As for the big push up into the close, I don't see it as important....could be some short covering, a few late day buyers, etc. The bulk of the day was pretty low though, and remember...the DOW WAS up 140 near the open and it lost it all. This was one of the lowest volume days we have had in a while, and with today's volume, it tells me that the sellers were still in control because of the drop from the highs and a mild down trend through the day except for the end. Few buyers willing to commit here and it appears that most of the fire power may have been extended during the A wave. Most of the shorts covered here too. Today was frustrating indeed, especially after a day like Friday which gave more of the same. One thing I can be sure of though, is that we are nearing the end of this chop. By the looks of things we are in a C wave of an ABC correction and it should end soon.

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