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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (50367)	8/16/2002 3:32:05 PM
From: mishedlo	Read Replies (1) of 209892

Well I was positive that we would close at 23.98 to make those QQQ 24 puts go up in smoke. Well I was positively wrong. Now we seem to be consolodating right near 24.90 (24.98 for the close anyone?) Took a small loss on my QQQ puts and very close to 100% cash now. I do not like this one bit. Clearly we had delta hedging long to close above max pain. Now "da boys" have a ton of inventory to unload early next week. Best way to do this is on a gap up. I do not want to be short into that gap up (if it comes). Been there done that. Damn I am glad I did not short IBM FNM and all the other trash I unloaded. F this! Bring on the rally. Well no sooner than I do this post we start the decline. Lets see how low it gets. M

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