Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: jjstingray who wrote (63668)	5/8/2002 11:32:06 AM
From: Jeff	Read Replies (6) of 99280

sting.....take notes on everything you see today....and yesterday for that matter....its a great learning experience... yesterday...the fed was cautious....no bright outlook...they have no bullets... market sold off....SPX broke an important support area by closing below 1050.... no buyers....market near crashing max pain is at much higher levels...like SPX at 1100... how do we get there with no buyers and near a crash...and the fed not optimistic.... call an earnings report by a giant a "homerun" even though it was a mere single at best.... result...short squeeze...brings in buyers.....get to max pain targets that were never going to get close to being hit with no buyers..... a most fascinating learning experience..... and this same thing just happened last month..... results of last month's options ramp....using a giant INTC that had an earnings report that was bad but spun good for expiration....SPX was near 1100 but max pain was 1125... after ramp....SPX fell from 1133 to 1049.... these are facts that actually happen....no spin...no b.s...don't have to make anything up.....its there for all to see.... this isn't a market of fundamentals....its who is in a position to make or lose the most at options time that determines where the market goes.... period.

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