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

To: John Pitera who wrote (10638)	4/24/2001 9:15:49 PM
From: t2	Respond to of 10876

John, I read that explanation on the VXN as well. However, that trader has been leaning short and will try to give that angle. I might consider it due to smart money front-running Nasdaq 100 (NDX) puts in advance of a sharp selloff. That can still be thought of as bullish. What if the mutual funds or retail investors don't follow? It is really hard to determine which way it goes unless we know what the mutual funds are doing and what their cash levels are? Funds have nothing happening in the near term that will require a lot of cash unless they get unexpected redemptions. That is my only real case for a Nasdaq bounce to mid 2000s near term--however, this week does not look like it will get us any closer. My guess is that next week is the real start to that higher level without any significant pullback. In any case, the selloff may continue as we did not get any good news in tonite's earnings. AMCC is not going to help the semis tomorrow and that is the sector that leads the Nasdaq. btw--downgrade of the California credit rating only makes the bearish case stronger.