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Pastimes : ASK Vendit Off Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: brk who wrote (18832)	2/6/2001 11:22:18 PM
From: Walkingshadow	Respond to of 19374

brk, If you pull up 4 year charts of the companies in the sector, you will find that those still in business have lost over 90% of their value. X is the exception, and has lost only about 65% of its value. Yes, the U.S. steel industry appears all but doomed. And yet, in complete disregard for the chart, technicals and fundamentals, the put/call ratio is an absurdly low 0.42, and reached as low as .06 several months ago! I view this extreme bullishness in a horribly downtrending company in a dying industry to be a fairly strong contrarian signal, and that is one factor which influenced me to buy puts. JMVHO, WS