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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject4/20/2001 1:53:43 PM
From: besttrader   of 37746
 
Velo, Drak finally went short.
Put/calls in the past hour have been at the .36-.40 level on the CBOE, clearly extreme and LOWEST of the rally, and VERY frothy. Combine that with the A/D line being negative by about 300-400 net declining issues on BOTH the NAZ and NYSE, and it is VERY likley a rather important 5th wave completion pattern has likley completed, and at least a pretty sharp corrective decline is now likley. I shorted the June mini S&P at 1254.50, and shorted CSCO at 19. Keep those trading hats on. I will tighten stops if decline continues.
Drak
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