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

To: KM who wrote (31184)	10/23/1999 3:10:00 PM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 99985

Great article. After reading it, I am that much more convinced that my read is correct. Did you notice that he claimed that Thursday and Friday's rally (in his opinion) was the evidence of massive hedge fund bear capitulation. Now think about what he said... they would have stayed "synthetically short" if they thought there was any chance of a further downmove from here. "Everone who is important has reported" he says. When a hedge fund sells it's puts and buys back calls, the market makers in the options markets have to hedge their side of the trade in the equity market by buying stock... hence the huge buy side imbalance. Who would recognize the actions of hedge funds better than Jimbo? And while we may have a few pressure relief days along the way, I say the bull is back in control. Matt