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

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To: Zeev Hed who wrote (83476)6/22/2002 7:43:27 PM
From: mishedlo  Read Replies (2) of 99280
 
Zeev, is the buildup of calls in the QQQ of any concern to you? (I am assuming you read my post where I laid this out). All this talk of high PC ratios but I see no fear, I see buildup of CALLS not PUTS.

One scenario I am entertaining is that we do not get GNTs but bounce, a nice big bounce. That bounce lasts not 5 week, not 3 weeks, not 5 days, but 3-4 days and ends in a massive gap up as well as a massive crap that afternoon that continues thru one more expiry.

It is strange that EVERYONE is now looking for a bottom next week or so. Not sure I like it at all and I am opening my mind already to other possibilities, and that call position as well as agreement form everyone on a rally has me concerned. Of course I saw a buildup of PUTs in June that dissipated, perhaps these dissipate as well.

Perhaps this happens EVEN if we get GNTs. What if so much foreign money just bails on the first bounce to get the H out. Could get ugly.

M
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