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


To: HairBall who wrote (55949)7/3/2000 9:57:42 AM
From: Gersh Avery  Read Replies (1) | Respond to of 99985
 
LG .. FWIW ..

I think that the few stocks that ran up after hours Friday :

GE, INTC, JNJ, UTX and WMT have almost given up most, if not all, of their movement up which took place at that time.

You may have also noticed that the VIX dropped very sharply after the bell also.

Looks like this was a paired move of long stock and write OEX calls. The 790 call strike for the OEX took a hard hit price wise at the same time. The VIX has now returned it's loss and then some.



To: HairBall who wrote (55949)7/3/2000 11:00:01 AM
From: Haim R. Branisteanu  Read Replies (1) | Respond to of 99985
 
LG, GE is now trading at $52, my interpertation is that $51 7/8 to $52 and not $53 is a valid quote.

As such I see teh action on GE as bearish as long as GE will make lower highs. I think $52 is quite important.

BWDIK
Haim