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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: eichler who wrote (81343)	8/10/2001 12:12:28 PM
From: Hans	Read Replies (3) \| Respond to of 99985

I have a basic question. I just got level II quotes... Now KLAC just ran from 50 to 51+, and is coming down in a pattern resembling a jagged mountain peak. If the bid size is greater than the ask size, is that a sign of selling pressure? In looking again, I notice that they both jump around. For a minutes, the bid size was 10+ and the ask 1. Now they both fluctuate, with the ask size sometimes (but not most of the time) greater. Any comments or theories welcome. -hans

To: eichler who wrote (81343)	8/11/2001 5:40:00 PM
From: mishedlo	Respond to of 99985

Well one more day was all it took to get many stocks to oversold. After unboxing my shorts at the open, I closed almost all my PUTs and shorts after the stall on the steep drop on Fri.. Kept LWIN HD and CERN short and NEM long otherwise I am flat. LWIN should be a GTZ and CERN is still overbought and NEM is still oversold. With options expiry week we should expect anything. If we selloff next week, the following week should be a bloodbath bottom. More than likely we get a bounce of some sort to correct the oversoldness (to get to max pain) and I will do some max pain analysis this weekend, then down seems more likely than up to me. M