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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: pater tenebrarum who wrote (65709)10/1/1999 11:50:00 AM
From: Tim McCormick  Read Replies (1) of 86076
 
It has to drift down slow to keep the retail panic off the bid. This way they buy all the way down. Also, those short volatility don't want to spike the VIX. History has shown sharp sell offs create bounces and momentum lead recoveries. This is perfect as a continuation pattern. I'm the idiot who sold OEX puts on Oct. 16, 1987 because the P/C ratio got too high. Tim
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