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To: Shack who wrote (93443)	4/12/2001 1:41:32 PM
From: mishedlo	Respond to of 436258

I won't belabour the point, but I did a little Max pain analysis yesterday with mishedlo and almost all the SOX crap had Max pain values around where we are now. Its melted up 25% in a week and I am beginning to think this may not be such a coincidence. There are many stocks trading way above Max pain right now though, which were dragged along for the ride. Dave, you also have to be open to the possibility that they covered the long side by buying at the lows so they want to run stuff well above pain sell it as high as they can get by wed. Then force it down to pain next thursday and friday. If they did cover the long side at the bottom that way, this melt up can continue right through tuesday or wednesday. If I had to guess right now, I would indeed say that is what is happening. I might just sit this mess out till WED. They need another 2 points on MMM and another 3 points on IBM. A piece of cake. MSFT is so far above pain that perhaps some of the MSFT calls were sold to the option boys so it is just friggin wrong. MER is right at pain and ignoring the huge block of strike 35 puts and calls on BA, my eyeball method says BA is sitting right on top of pain as well, although the "official" max pain is at 35. It is totally wrong as I believe 10,000 strike 35 calls and 10,000 strike 35 puts was a deep in the money covered call sale and the pits are long BA calls at that strike. Tossing it aside it appears pain is at 60. Right where we sit. M