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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

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4:00 PM EST

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To: Lee Lichterman III who wrote (6628)	2/18/1999 11:31:00 AM
From: Daflye	Read Replies (2) of 99985

L3, just eyeballing todays open interest in the Feb OEX options, a close Friday right in the neighborhood of 617-619 will wipe out tens of thousands of contracts. Note to Gersh, I've only been using the trin for a few weeks, but it has proven to be a great way to verify a trend. On the quote.com site I use a moving ave of 13 or 10 (still playin' with that) to spot potential reversals on the 1 on 5 min charts intraday for little OEX trades. Anybody have an initial downside projection for the OEX? I'm leaning towards 570ish, roughly Decembers lows before a bounce of consequence comes in. Currently resistance on the OEX should be about 623. Cheers, D edit: the Q, NDX mimic should be fun. edit 2: last night I had a small personal victory, I made Jiffy Pop, and only 6 kernels went unpopped, and nothing burned. heh heh heh

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