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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (45068)	10/17/1999 12:17:00 PM
From: Cooters	Read Replies (1) \| Respond to of 152472

<<but exactly how does one uses the changes to determine?>> Jill, Football is about ready to start, so I'll answer what I think you're asking and we'll take it up tomorrow if I have it wrong. Sentiment is a very accurate indicator to determine where the market is at, and consequently where it might be heading. Unfortunately, most sentiment indicators are really art and not science. Examples are the mood on CNBC, the mood on this thread, WSJ or local paper headlines, etc. The put/call provides a good tangible measure of sentiment. For the current example, the rise in the put/call indicates there is real fear out there. I would add all of the above intangible indicators say the same thing. This doesn't mean the market can't head lower. It means the sentiment must get worse for that to happen. Does that help? Cooters

To: Jill who wrote (45068)	10/17/1999 1:03:00 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 152472

look at each call strike price and its open interest the highest big number represents to me where bighouses will defend fiercely to prevent closing above... speculators are way out on the limb up there the middle level stike prices is where speculators are taking decent risks also the lower level strike prices are where smart specs probably got their contracts quite early and are sitting on massive profits most option call selling with higher strike prices is done by older risk-averse millionaires... with QCOM some of the rules are different, since I doubt we have many old graybeards who shun risk I prefer VIX which measures the cost of S&P index option put premium... suckers ALWAYS push this premium up at the bottom of the decline... they buy old news and get their heads routinely handed to them... happens over and over / Jim