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Strategies & Market Trends : Drillbits & Bottlerockets

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To: Don Pueblo who wrote (9583)5/2/2001 11:02:51 AM
From: John Pitera  Read Replies (1) of 15481
 
Interestingly on the NDX 1960 is now the resistance area, and I remember when it was resistance for the NASD
a few weeks ago. the NASD needs to get above 2200 and stay above.

one thing on the bearish side is that some of the biggest runups %wise today and yesterday are the CMGI's
ICGE's, INSP..... some of the dreggs......

the put call ratio (CBOE equity) is also .37 pretty optimistic/low but yet as Jay Shartiss mentions

a big concentration of may 40 puts ..... interesting:

Jay Shartsis
QQQ
5/02/01 10:18 AM ET
A most interesting development has taken place in the QQQ option complex. Over the past five days, the open interest in the May 40 puts has jumped enormously from 107,000 contracts on April 26 to 181,000 yesterday. This is the biggest single concentration for any QQQ option and such a manifestation of bearish sentiment by option players is a bullish indicator for the Nasdaq marke
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