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Strategies & Market Trends : The Options Box
QQQ 611.67-1.9%Nov 6 4:00 PM EST
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To: Poet who wrote (10673)4/25/2001 12:09:36 PM
From: t2  Read Replies (1) of 10876
 
Any calls you bought yesterday are having the life squeezed out of them today due to much lower volatility today.

So..the VXN dropping today. Is it a good or bad sign?

In this environment, could it be bullish there are less people concerned about losing their recent gains?

I certainly feel less concern about that same thing. My sense is that mutual fund managers are going to now start buying more even the ones who were waiting for lower levels...just because the consumer sentiment (measured by housing starts) seems positive. Less fear of deterioration in the economy except for the possible exception of the telecommunication sector. Less concerned about the carriers (actually bullish) but concerned about the equipment spending.
On top of that, we have a FED that is still lowering rates.

May 15 is not that far away. It is possible that hedge funds will become more long ahead of this date...ride out the gains and then short it is just around the FED meeting date.

The more I think about it, that is probably how it will unfold and consequently I am only adding to my longs today and will look for the next pullback to place a few "bets".
Might change my mind just as quickly if I get a negative feeling. Nasdq 2000 being held today will be EXTREMELY bullish, IMHO.

BTW--guess I could not stay away for a whole 2 hours.
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