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Strategies & Market Trends : Ask DrBob

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To: Drbob512 who started this subject	8/3/2001 3:47:11 PM
From: Louis V. Lambrecht	Read Replies (1) of 100058

Yesterday's spike by Ron Taylor from Schaeffer's Inc.: ....An institution came in buying 100,000 contracts of the QQQ August 44 call, which in turn sparked a rally into the close yesterday, as the market maker scrambled to hedge this massive position. This morning, the QQQ option trade was exited on the open, which allowed the market maker to unwind his hedge, and subsequently caused technology stocks to buckle. This is an excellent example of how the derivatives market can affect the broader stock market. Learning every one day. <g>

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