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Politics : Idea Of The Day
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To: Lucretius who wrote (16024)12/29/1997 5:07:00 PM
From: Judy  Read Replies (2) of 50167
 
Lucretius, I'll trade this seasonal rally long and then short when the rally falters. That's all I'm doing with CSCO.

CSCO is richly valued because of its consistency in earnings. And until CSCO itself warns, CSCO should continue to rally. The chart is showing that the market is anticating this event to occur, and logic says it is inevitable, the uncertainty is precisely when.

Consider many tech stocks violated their 200-day emas or other key supports recently, and staying below them for several days. This price action subsequently triggered off a rash of put buying. Couple this to techs being oversold and anticipated seasonal buying, I'd expect fundamentally sound but oversold techs with significant put OI would rally into options expiry activities. During options arbitrage, stocks with large put OI should temporary move up during the clearing of those positions.

If you believe that CSCO is a fundamental and technical short, average up on your short position.

btw, which oil drillers are you long now?
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