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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (10097)8/15/2001 11:03:42 PM
From: AllansAlias  Read Replies (3) | Respond to of 209892
 
Too many people are looking for three things (all bullish):

1) Very s-t: "How soon before we bounce here to kill the puts?" The calls are all but dead but now we are uncomfortably close to a chitload of puts being in the money. This is the max-pain crowd.

2) S-t: "When does the runup into the FOMC start?"

3) Less S-t: "When do we get the bounce? The April lows will hold and a bounce will come."

I would think that at least one of these things will happen. Chances are very slim we'll see all three. Do ya feel lucky? -g



To: JRI who wrote (10097)8/16/2001 9:01:15 AM
From: AllansAlias  Read Replies (1) | Respond to of 209892
 
If the open gaps down over the Aug 10 low on COMPX, any thought at all for a wee long bounce is dead for me. Gapping over support/resistance is a powerful signal and the odds trade in such cases is to go with the direction of the gap.

NDX is already under the Aug 10 low, while COMPX would have to gap down beloe 1915 or so, which is only 4 points from yesterday's close.


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