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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Jack of All Trades who wrote (33873)	9/16/1999 1:37:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

Well, having a preponderance of In the Money OEX Puts out lends some power to the downside. I know it sounds contrarian, but depending on the weighting, the amount ITM, and the motion of the market early in the last hour I would not want to be Long knowing that the O.I. on the Calls is far below the O.I. on the puts. Just opened up a new short, by the way, and will add to it if it breaks 1320. I might be early, else I would send it all in at this point. The 1:30~2:00 time frame is normally bullish so I'm being a bit cautious.