MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

0.0%

Nov 14 4:00 PM EST

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To: donald sew who wrote (11104)	4/15/1999 12:03:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Don, my comment wasn't meant to reflect an opinion on short term moves. you may well be right regarding near term shorting opportunities in these stocks. i have been accumulating some of the downtrodden copper, gold and aluminum stocks recently, but i didn't expect such a sharp move so soon,it was more of a long term play.let me point out though that many of these stocks have open interest on their puts higher than on their calls, which is rare and points to a limited downside. furthermore option speculators seem not to believe that the move is for real, as they were buying puts in droves yesterday on stocks like IP,CAT and AA. regards, hb

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