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

To: Haim R. Branisteanu who wrote (67133)	1/18/2001 1:51:56 PM
From: Saulamanca	Read Replies (1) \| Respond to of 99985

Haim, Looks like the people that were shorting into resistance were getting stung. From Jay Shartsis I said that I think the rally is done for now but I want to add that no serious downside should be expected before the option expiration on Friday. This is because the very high levels of put trading we have been witnessing probably means a significant number of January puts and short calls are outstanding and their unwinding should ensure things will hold up through Friday -- maybe Monday. thestreet.com Jim