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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Real Man who wrote (183991)	7/27/2002 12:18:18 AM
From: mishedlo	Read Replies (1) of 436258

Max Pain - A look ahead. Dropped nearly a full point as people loaded up on QQQ 22 calls. Pain is 23. If we get another pullback then another rally in short order, I expect QQQ Pain to fall to 22. We have an "options gap" developing now which is interesting. 24 is strong resistance and 23 is no resistance. Most likley targets now seem to be either 22 or 24 and not at pain which is 23. We are quite a ways off and this could change. If the pattern continues however we could hit a point where likely targets are 21 and say 24-25 (with a dearth of options between). If so, we will likely have a violent move in one direction or the other. It is too early to predict but I like to look ahead. Right now it seems like rallies are DOA. Lots of optimism out there. To fuel a rally we need to see more put buyers IMO. M

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