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Strategies & Market Trends : Z Best Place to Talk Stocks
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To: James Strauss who wrote (14814)6/16/1998 1:26:00 PM
From: DanZ  Read Replies (2) of 53068
 
Market.

Jim,

While the volume may not indicate fear in the market, the implied volatility in OEX put options does. In addition, the implied volatility in OEX put options is out of balance with the implied volatility in OEX call options. biz.yahoo.com

The Dow Industrials index is slightly below support but the OEX and SPX have yet to break support. The SOX is outperforming the other major averages for the second day in a row and I expect this to continue.

Like you said, the rules change sometimes and we may not have a capitulation on high volume before the market turns around. My guess is that our low interest rates will win out and the market will turn soon. But this is just a guess and I think one should wait for the McClellan Summation index to turn up before calling an end to the correction.

Thanks for your insight.

Nemer: Thanks for your insight as well. Please keep us updated on your charts.

Dan
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