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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (4228)7/18/2000 2:54:00 PM
From: John Graybill  Read Replies (2) of 436258
 
There are three big unfilled gap-up's on JPM in a row on the recent manic rise from 118 to 130. Lots of volume as well. The price action on those days (gap open, flat all day) smacks of a concerted bear-killing effort.

I remember suffering through the worst (at the time) bear raid that MU had ever played on us last October, something like nine unfilled gap-up's in a row, twenty five points, something like that. It gave it all back and then some in as many days as it rose, once They reached whatever bullish objective was necessary.

Looks like They want 130 for expiration for JPM. The volume today says to me that they're in simple shepherd mode through Friday.

I'm holding Sep 135 puts, bought the other day at 11 when JPM was at 130.
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