Zeev's Turnips - No Politics Message Board

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

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To: t2 who wrote (93084)	7/10/2002 6:13:34 PM
From: mishedlo	Read Replies (2) of 99280

T2 - Too many calls - Look at today. Call volume at strike 25 was amazing. QQQ dropped another slight tick and one more tick down and max pain becomes 26. @8 is much furter away from pain than a couple days ago but officially pain is still 27 (but barely holding on). One more dip tomorrow with more 24-25 buying and it drops to 26 or possibly 25. Amazing complacancy in the face of this decline. I started posting on this last week. I never thought we would hit Zeev's target but I did think we would hit 26-27. Well we hit it early and now with all the call buying I am not sure we can do it again. There was an attempt to take the market up today with CSCO but it was sold. My guess is foreign money is leaving and there is nothing out there to prop this sucker up. Just a guess but I am not playing for max pain. I do have a few cheap qqq calls as a hedge against some puts but I am primarily cash. M

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