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To: mishedlo who wrote (9514)	1/30/2001 6:47:25 PM
From: mishedlo	Respond to of 13572

From someone else who also thinks KIS was really long on BRCM siliconinvestor.com I would be the first to admit that there are folks who post that really get under my skin but it is plain silly to ban them. Look at the fuss about KIS' pushing of Broadcom. Two weeks later, the stock craters and his "call" is exposed for what it was,....... dumb and poorly researched. Now KIS has to live that one down, and will be reminded of it any time in the future that he gets too enthusiastic. Hopefully more proof that I am not KIS - still LOL M

To: mishedlo who wrote (9514)	1/30/2001 10:34:05 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 13572

Mishedlo, The 21-day moving average of the CBOE Equity put/call now stands at 0.57, which is down from the mid-60's levels at which it has been for the past month or so. The put/call on QQQ today stands at 0.62, which is lower (i.e., more bullish) than 84% of the daily put/call readings in the last year. However, I would still not call this extreme, since only two weeks or so ago it was at 0.37, which definitely was extreme. The put/call ratio is most helpful when it reaches extremes, and it is not at an extreme at the moment. While trends in the put/call can also be very useful, we now have a trend upwards from extreme bullish levels back to more reasonable ranges, so here also I think it is non-contributory. Bottom line is that I don't see that the QQQ put/call is helpful here in what you're trying to decipher. Further, the QQQ put/call is not comparable to the CBOE Equity put/call. They are entirely different animals, and cannot be compared. IMHO, it is only relative extreme readings and also trends which are significant, but both are specific to the index (or equity) in question, and so usually little can be concluded by noting discrepancies between them. There is, however, a lot of open put interest at the 60 strike, which should offer support for the QQQ index at this level. There is even more open call interest at the 70 strike, which should tend to act as resistance. Regarding hedges, there are plenty of potential long positions around. But IMHO, you'd be better advised to manage downside risk, either with some type of hedge on the short side or stops, since the chances of a selloff are substantially higher than the chances of a rally. As always, JMVHO........... Walkingshadow