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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (16042)	5/18/2001 8:37:45 AM
From: brightness00	Read Replies (1) \| Respond to of 30051

The real issue is whether the "powers" were behind the ramping to begin with. There was a very lopsided P/C ratio on the DJIA the entire month. Is it just a coincidence that the DJIA lead the melt-up? Not to mention the IPO's that are rushing out that desperately need good market sentiment. Remember McLeod USA, the company that decided to float a giant loan after market close on the 3rd of January, the first exhuberent day of the year? BWDIK, Jim

To: Zeev Hed who wrote (16042)	5/18/2001 8:49:53 AM
From: YxY	Read Replies (1) \| Respond to of 30051

I'm not sure about one point with this maxpain theory is it enough to bring the underlying at the max pain level during the expiration day or do we need to close at max pain ? I was under the impression that it was the later but I 'm not very familiar with option so I may be wrong and reaching the max pain level during the day may force option holders to sell them back to the underwriter as they are becoming worthless but still worth more than the transaction cost ?