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Strategies & Market Trends : Options
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To: PAL who wrote (6422)4/13/2000 2:11:00 PM
From: Bridge Player  Read Replies (2) of 8096
 
<<WHEN THE MARKET IS OVERSOLD SELL PUT AND BUY CALL>>

One of the talking heads on CNBC yesterday made the following cogent observation: When an oversold market, instead of bouncing or rallying, just keeps going down, it may be a sign that the market is in a transition phase to a bear market.

Although the 20%+ correction rule places us in a bear market by some definitions, no one can tell except in hindsight the duration in time, or the magnitude in price. Perhaps this morning was a correction low and we rally to the old highs; perhaps not.

Anyway, IMO his comment was worth remembering.

BP
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