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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.53

-1.5%

Nov 20 4:00 PM EST

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To: John Pitera who wrote (2432)	12/20/1998 9:42:00 PM
From: John Pitera	Read Replies (3) of 99985

Debra, Csco is acting just like Lu did in July when Lu gapped upward and closed over 100. The next day it went to 107 and reversed, I know I shorted Lu at 102 when it had what I felt was an exhaustion gap above form 93 to over 100. I was conservative and bought Oct 95 puts.. with lots of time and premiums the VIX was 17 at the time. Csco I feel is engaging in the same activity and the potential for a great position and trading short will occur tomorrow. Ideally we can have a strong move up in the morning in CSco and can create the spike that EMC had last week. Those followers of Cramer will note how he speaks of these stocks in tandem lately. Cramer was similarly pumped up on LU in July. Passing Thoughts, John

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