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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: LTK007 who wrote (81682)6/19/2002 6:34:44 PM
From: mishedlo  Read Replies (3) of 99280
 
We got to get Mishedlo to weigh in on this, he will have MaxPain figured.

The max pain bounce we received yesterday into the close and AH was it.

Normally Wednesday is the reversal back down day but ORCL and B2B news was just too much to overcome.

Some will see this week as a failure of max pain. The standard I have been preaching is any hit during OE week counts.

QQQ got to 29 yesterday, with pain at 30.
AH (not sure how to count that, someone have the initial ORCL spike on the QQQ's?) I am sure it got cloer yet. Still perhaps that is cheating but I wonder how many shares of QQQ were sorted by da boys AH on that pop!

So....
CSCO hits
QQQ came within $1 with horrendous news everywhere (it was a gallant effort)
MSFT is a puzzle well over max pain so that is a clear failure.
INTC well below max pain and that is a clear failure as well. But (news overrides pain on specific stocks so I suppose I could throw it out). I will not.

Thus we have 2 wins (if you give me QQQ as close enough) and two misses (well I suppose the week is not over and perhaps MSFT come home to roost. I will call 51 or so a victory there).

In terms of number of options, if you just give me QQQ, then da boys won big. MSFT and INTC had light options this month, and QQQ dwarfs everything.

So lets call it a mixed bag.
Not bad for the middle of a nasacre I might add.

Where to now, Delta hedging obviously kicked in this afternoon and I would guess when that happens during expiry week it is a very bad sign.

I think delta hedging long kicked in last month to take us up thru max pain, and this month lower.

M

M
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