ajtj, yes, you are reading me correctly, that scenario (that 2000 was the first bottom in the inverted W) is a possibility, I think, however that we have to wait till the end of this week to see for sure, right now, I still thik that the original scenario will evolve (namely, we may start strong on Monday, but rapidly go down later in the week and break through that 2000 level on the Naz). The indices P/C extreme ratio scared the hell out of me, and I thus decided not to jump back in on the early afternoon retreat. I coulda, shoulda have left in my GTC on CCMPand VECO (both would have been hit during the day), but, I got scared by those P/C ratio, and took these off. My RMBS $16.12 never hit, and it was removed late yesterday as well.
Zeev |
