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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.53

-1.5%

Nov 20 4:00 PM EST

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To: donald sew who wrote (19220)	7/2/1999 3:12:00 PM
From: pater tenebrarum	Read Replies (3) of 99985

Don, thanks for the reminder on the class signal implications...a true blow-off about to start perhaps? there is a not much talked about side effect implicit in all that call open interest: the writers of the calls have to cover their ass by buying the underlying securities if prices don't come down - in which case we could really take off. regards, hb

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