John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (10635)	11/20/2008 9:24:44 AM
From: ajtj99	Read Replies (2) of 33421

John, we've come to similar conclusions. I posted this earlier this morning: siliconinvestor.com This also is something to take into consideration: siliconinvestor.com Max Pain was 960 on the S&P when I looked at it the last two weeks. When we don't make Max Pain, we delta hedge away from it during expiration. That's what we're doing now. That means we drop into Friday. A drop into Friday means a drop Monday as well due to the Friday/Monday effect. How about we schedule a low for 9:40AM on Tuesday? The key level to watch may end up being 4407 NYA, not S&P 789, 775, and 768. The NYA is the big stick when it comes to important pivots, and the 4407 area is the NYA 2002 lows. That would line up with about 720 SPX. That would also get us a test of the 947 March 2003 NDX lows.

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