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

To: John Madarasz who wrote (61478)	10/26/2000 11:15:47 PM
From: Stephen M. DeMoss	Respond to of 99985

On the Put-Call ratio question (why were people buying puts during today's rally): From what I saw, the rally was only the last hour of the day. The puts were being bought as the market was selling off and the optics were making new lows around 2 pm est. I'm not suggesting we are out of the woods, just saying the contrarian view of the ratio says we may be heading up near term. We have a big wall of worry to climb here which may make people slow in covering their shorts. The morning numbers will likely fuel the Jdsu positive #'s or cool the effect. We shall see! Steve D.