MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Killswitch who wrote (12025)	5/3/2002 1:11:40 PM
From: Killswitch	Read Replies (3) of 19219

"Bearing Witness 05/03/02 12:57 PM EDT One indicator that has been quite accurate through this whole decline has been the "mirror-image" S&P 100 (OEX) options. They have refused to show anything like the high level of fear needed to call a bottom. Today with the OEX at 530, the May 505 put is 1.90 bid. It's "mirror-image" call, the May 555, is 1.00 bid. At only about 2-to-1 put-to-call, this will probably change big time at a good bottom to a put price eight times or more that of the call. This thing, is then, still quite bearish in its implications."

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