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Strategies & Market Trends : The Options Box -- Ignore unavailable to you. Want to Upgrade?

To: hobo who wrote (9814)	3/1/2001 8:32:05 AM
From: Poet	Read Replies (1) \| Respond to of 10876

Good morning Tosc, I know you've read this by now, but I thought a few snippets from last night's Hahn report were worth posting: Volatility spiked sharply higher today, as expected. The October market events may be useful as a template for the next few days, although patterns are never exactly the same. What's important to know is that volatility spikes and pullbacks do not preclude another spike in a few days. This is especially true of markets that do not complete a large volume capitulation low. I think we are two or three trading days away from a quality, climactic low. Volatility can rise to 50 or 60 or more on a market mini-crash. Ignore the analysts on CNBC who suggest a move to 35 is a buy signal. A capitulation low on high volume is on the horizon. If it happens tomorrow, I'm an interested buyer at the bottom of the plunge for a dead cat bounce rally. If this capitulation is delayed until next week, the decline will be more like 1987 or 1929, and I don't want to own any stocks. This is serious business! I would prefer a cleansing of the market tomorrow and a recovery, rather than a crash in the next week or so.