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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad -- Ignore unavailable to you. Want to Upgrade?

To: Shack who wrote (1248)	3/18/2001 3:02:53 AM
From: Shack	Respond to of 5144

The large put positions being taken on are indeed a sign of bearishness and is traditionally a sign of a bottom. I am however very concerned (based on recent stats and some anecdotal evidence) that there is a massive wave of mutual fund selling which is just starting to come in. If this is true and we combine this with large put positions, we are going to see massive shorting by the writers. The high put position is a traditional bottom indicator but doesn't it seem to most of you that J6P is just starting to redeem? I don't like this combination.