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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: KeepItSimple who wrote (172036)6/12/2002 1:20:40 AM
From: mishedlo  Read Replies (1) of 436258
 
KISS - I follow Max Pain constantly but only attempt to play it about 7-10 days in front of Expiry.

Yes it does change a lot, especially early in the month.
Remember all the snapback rallies we have had out of the blue for no reason month after month.

If you check most occurred 7-10 days in front of expiry. (The further from pain we were, the further out we started to rally).

Max pain on the QQQ has dropped from 37 or so at the beginning of the month to 31 now. But there is an anomoly not seen before, this month. CALLs outnumber PUTs at 30 31 32 33 and 34.

People are buying calls all the way down here and/or cashing out their puts. That puts a downward drag on things.
In other months we rallied, puts outnumbered calls at many key strike prices.

Perhaps QQQ misses this month and I sure am not betting on it (yet), but do not be surprised at all if we have an out of the blue bounce at the end of this week or next week to about QQQ 30-31.

M
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