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Strategies & Market Trends : Classic TA Workplace

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To: ajtj99 who wrote (48954)	8/4/2002 11:41:22 PM
From: mishedlo	Read Replies (1) of 209892

I peg Max Pain to be 23-24 Calls outnumber PUTs at 24 and so far this year, everytime that has happened rallies have hit a brick wall there. There are not enormous numbers of puts below 22-23. That is where the battle is. If call buying strike 22-23 happens in size Max pain will drop to 22-23 perhaps. Right now I would suspect that the previous pattern holds. That pattern is continued selloff, then some horsesh*t rally back up to the 23-24 area(on CSCO MSFT or INTC news) then down again. This assumes no change or little change in open interest for another 3-4 days. M

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