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

To: AllansAlias who wrote (10290)	8/17/2001 11:37:44 AM
From: Perspective	Read Replies (1) \| Respond to of 209892

I agree. P/C is soaring here. While I agree with your attempt to grab a short on a retest, I repeat that too much dumb money is on red here. Too many puts bought. The only way it could make those guys right is if the weight of dumb money long via mutual funds and foreign investors overwhelms the weight of the dumb option money. I will reduce short-side exposure on the likely retest. I thought we might still have a teeny wave five coming (thought we were in a teeny "a" of "4" here). SPX behaving that way, but SOX acting like the bottom might be in. We need to find that bullish count pronto. We'll know based on how it behaves at the looming overhead resistance here. Naz and SPX both about to bump their heads on yesterday's shelf. BC