Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: pater tenebrarum who wrote (41122)	6/28/1999 7:53:00 PM
From: Haim R. Branisteanu	Read Replies (1) of 94695

Heinz, I noticed more and more capitulation from both sides. Many are outright frustrated. The VIX is relatively low and today's put/call ratio on equities is also low (.43) I do not care about "the advertised sentiment" the proof is in the puding speculators buy much more calls than puts. Anyone is expecting a rally AFTER the FMOC meeting but IMHO we will have a sell-off. Friday is a key day. Aside of that personal savings are at -1.2% which indicates to me that the stock market is the "saving of choice" in the gamblers country of the USA. I intend to close puts I wrote sometime tomorrow to be left only with calls I wrote - e.g. fully short. I hope for a 50 to 100 point rally <GG> BWDIK Haim

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