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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Benkea who wrote (19275)	7/2/1999 9:30:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Oh, there you go using logic again!!!! I still beleive this market could go to levels even the bulls can't imagine and/or last longer than anyone thinks. Of course it could open 2000 points lower on Tuesday too. <g> Imagine what was accomplished today. We went up for 6 straight days and the Friday J6P rally was pulled off yet again despite all week being up. This means that all weekend J6P will hear we are at new highs and he will rush to send more cash into his fund for Tuesday. ( I added more money to my account, although it was so I could buy more puts when the time arrives <g>) Next week there will be a slew of new money and the following week there will be more money from those that contributed by check as the checks all clear just in time for options expiration which usually has an upward bias despite the max pain point. There are two more weeks for those hurting from the writing of OEX calls to sell puts as we climb to lessen the pain and ride stocks up as I am sure the big money hedged many of those calls. Maybe that is why GS bought those 20K puts on the DOW. They may have bought the puts then resold them as we dropped for a slight profit and flipped to distributed calls once the 20K put hedge was seen as un-needed. ( I admit I am grasping at straws but those puts cannot be ignored, they were bought for a reason and GS is never wrong. Even when they are wrong, they can push the market where they want it just long enough to get out of whatever bind they are in IMO) I am going to scrounge some chow and enjoy the night now, Good Luck, Lee