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Strategies & Market Trends : Waiting for the big Kahuna

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To: mishedlo who wrote (65595)8/30/2003 7:35:03 AM
From: Real Man  Read Replies (2) of 94695
 
I saw that. High put OI was the case before the rally, I believe. Coupled with extremely low VXN (26 at the bottom), it may be extremely bearish. Commercials will have to hedge if the index blows through these strikes. Also, note that the volume has been decreasing - not much buying pushes it up. We need several strong down days to confirm reversal.
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