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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Terry Whitman who wrote (3863)	5/18/2001 1:30:39 PM
From: John Pitera	Read Replies (1) of 33421

small note from options maven Jay S. -------------- Jay Shartsis MARKET 5/18/01 10:11 AM ET Just how overbought this market has become is revealed in the percentage of optionable stocks that are trading above their 10-week moving average. Just before the explosive rally on Wednesday, 74.4% of them were in this condition. At the start of the rally in late March, only 20% were. The highest figure of the past few years is 80%, so we are not very far and keep in mind that the 74.4 was taken before the Wednesday eruption this week.

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