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

To: Vitas who wrote (31893)	10/30/1999 4:06:00 PM
From: Lee Lichterman III	Respond to of 99985

>>one thing that did not happen was two days in a row of trin under .50<< Good Point and we also have a low VIX already. I think the TRIN problem is many don't trust this rally other than us. I was a lot more skepticle until I saw the high number of index puts being bought the last two days. People are fading the move up trying to protect their backsides while they go long calls in equities. As long as there is healthy put buying and people selling into the rally as evidenced by the TRIN, the rally could extend farther than expected. Don't get me wrong, I am biased to the bull only due to my charts. I still think this market is obscenely over valued and that the euphoric glue sniffing is extreme. Did anyone else see that IPO( I don't recall the name but it made the NBR fast mover list) but it IPOed at 26 and moved 145 bucks off the open. Still no fear out there. Good Luck, Lee