Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 685.40

+1.2%

Jan 21 4:00 PM EST

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To: TraderWithNoName who wrote (25429)	8/12/2002 12:22:58 PM
From: MeDroogies	Read Replies (1) of 39683

Where is everyone today? I've stepped out of trading, mostly because Tuesday is looking very strange. I'm guessing the Fed does nothing. They don't want to lower rates and send the wrong message. That will help push the Dow down for a day or two, but it will snap back when those in the know step in, realizing the Fed is right. HOWEVER, there's the chance the Fed may lower by 1/4 point just to keep up with the markets (which have already factored a drop in). That would spark a minor rally, which would be wiped out by expirations on Friday. Max Pain for DIA is beginning to drift lower. Still at 89, but has gone from a differential of 500k between 88 and 89 to 150k. Only 300k between 87 and 89. I think by Friday we'll see 87/86 as the inflection point, which seems to be where the market wants to be right now.

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