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

To: mishedlo who wrote (10102)	3/16/2001 7:59:06 PM
From: bonnuss_in_austin	Respond to of 10876

'god,' it hurts. / eom

To: mishedlo who wrote (10102)	3/17/2001 2:35:46 PM
From: Poet	Respond to of 10876

Happy St. Paddy's day, all honorary Irish Options Boxers. Mish, those RMBS puts went from .25 to $15??? Oh my gosh. Yet another boat has left the dock without me. Jambo bwana made a very interesting post to me over on the Critical Investing thread yesterday, about the concept of capitulation and the inversion of the market over the past year: Poet, regarding capitulation The idea that there has to be capitulation defined as one of those huge down days with massive volume is a bit of a myth. Sure it can occur that way but some of the longer bear markets are those where there is this continuous grind downwards, a relentless process which drives those who are long to a point of exasperation. In between there are rallies - sometimes sharp rallies - which cause people to believe that the end of the bear market has been seen and then the decline resumes. When the bear market finally comes to an end, people are disbelieving thinking that it is one of those false starts - except that finally it turns out to be the real thing. The best way to visualize it is by viewing the recent bull market in reverse. We had sharp sell-offs which were thought to be the end of the bull market but then it resumed its upward trend. When the end came most assumed that it was just another one of those sell-offs. The psychology of markets is fascinating. It's a gorgeous spring day here and I'm going to take a nice long walk. I'll be back tomorrow with the usual Sunday market research.