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Strategies & Market Trends : Drillbits & Bottlerockets -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (3714)	2/16/2001 9:23:56 AM
From: Dana Johnson	Respond to of 15481

Interesting how the trading day before president's day has been historically down (last 9 years) and also that today was a low probability up day in Hirsch's Stock Almanac. I don't think these stats are tradable, but they make good mood music...

To: AugustWest who wrote (3714)	2/16/2001 9:25:39 AM
From: Don Pueblo	Read Replies (1) \| Respond to of 15481

I saw the COMP top yesterday afternoon. (double hump RSI) I would have bailed on any long then. I also saw no short squeeze at the close, which indicated a lower opening this morning. We need a bounce up to around 2510 this morning. If the COMP comes up but holds below there this morning and then goes lower (which is a good bet at this point) I think you are exactly right. I just checked on the OE on the Feb CSCO options, and the 30s, 35s, and 40s are still gigantic. With my limited understanding of options, this indicates to me that either lots of smart people have sold covered calls or lots of idiots are going to lose their premiums. I think it is the former.