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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: IceShark who wrote (70334)2/22/2001 1:21:45 PM
From: Hobie1Kenobe  Read Replies (1) of 436258
 
Nice trade Ice. I won't say anything about MU (oops). Ck this out from Jay Shartsis @ RealMoney.com. When the amateurs start shorting and put buying, it's time to cover (and maybe go long for a trade).
Best,
JF3
2/22/01 12:45 PM ET
There is a put/call ratio that traces the Nasdaq alone. The highest level (lots of puts) recorded at the Dec. 2000 bottom was a .66; today it is at .63. Well that is a lot of put buying. A late-day rally, if it happens, should be bought.
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