Win Lose or Draw : Be A Steve, Make A Call Message Board

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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call

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To: Win-Lose-Draw who wrote (4150)	2/26/2003 5:38:52 PM
From: mishedlo	Read Replies (3) of 11447

I find it amazing that people can be bullish with this obvious distribution going on. The ONLY thing holding this up is the number of puts out there. If 24 cracks we can see some real escalation to the downside with delta hedging. There is NO impetus for a rally here. Bears are scared shitless (including me) and that does not bode well. Nor does the huge volume of calls being purchased. That does not me we can not tag qqq 25 again, but if you watched the TRINQ these past two day they were HUGELY selling into that rise. Selling again all day today. That and today's candle is extremely bearish. Light volume manipulation is also helping to prop this up, but with all the calls at QQQ 25 there is no one that wants to take it higher. So..... DOWN first. Note that I will scale out of puts on any decline because I am tired of this chop, but repeated calls for UP in the face of this TRIN and TRINQ supports the bear case not the bull case. Too many people still looking UP. Too many people think we get a war rally. The only way we get a big rally here is if it a PEACE rally not a war rally. M

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