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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (15576)	8/17/2001 12:52:56 PM
From: bobby beara	Respond to of 52237

speaking of larry, just got his weekly update. WELCOME TO THE OPTION STRATEGIST WEEKLY COMMENTARY VIA E-MAIL from Lawrence G. McMillan's web site OptionStrategist.com, home for serious options traders and students. = = = = = = = = = = = = = = = = = = = = = = = = = = Congratulations to LARRY McMILLAN recipient of the "Trader's Hall of Fame Award" *********************************************************** Celebrate Larry's wonderful honor this week - with an amazing McMillan SPECIAL OFFER: * FREE SHIPPING on any order over $99 * 30% OFF or more - EVERY Book recommended by Larry McMillan * 40% off registration to the OPTIONS TRADING FORUM – which includes an awards banquet honoring Larry McMillan - plus 12 in-depth workshops, a mock trading session LIVE on the floor of the CBOE with Jon Najarian - and MORE!! Click here now for this special: optionstrategist.com ************* McMillan's contributions to the Options and Trading world are HUGE - he's a best selling author, publisher, trainer - and now you can join him as he receives this prestigious award at the: OPTIONS TRADING FORUM - Oct. 9-10 - Chicago, IL (Scroll down for 40% savings - and full details). And ...this week ONLY - every title on Larry's "RECOMMENDED READING" list is On SALE Plus, FREE SHIPPING on orders over $99. FREE SHIPPING is the time to stock up on trading titles that have influenced trading world legends like Larry over the years. Click here now: optionstrategist.com = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = Friday, August 17th, 2001 Expiration Nothing has changed as far as expiration is concerned. Do not expect option volume to be heavy enough to influence the stock market in any meaningful way. Stock Market The market was on the verge of a breakdown today, as the NASDAQ Tracking Stock (QQQ) opened below 39 (its support level). In fact, it traded well below 39, to nearly 38. Meanwhile, the $OEX Index traded below 600, intraday. Again, that is below the support level. Had these indices closed at those prices, it would have solidified a bearish development closing below the bottom of the recent trading range. However, a late-day rally came to the market's rescue, and all of the major indices closed above their support levels. So, for the time being, we are still within the trading range, although the bulls must admit that they barely escaped today. With the late-day rally, it is now possible that the market can rally back towards resistance again. For $OEX, that would mean at least 615 possibly 630. The bears will certainly fight back, though, and one possible weapon in their arsenal is that market breadth has expanded to the extent that our oscillator is now in overbought territory. Thus, another sell signal is set up. The last one occurred a few weeks ago, with $OEX at the 630 level, and it traded all the way down to 600 in quick fashion. The one thing that we don't know is when the oscillator will generate this sell. It could take some time, during which the market could rally. Thus, don't anticipate any sell signal. Wait for it to fully develop. Another bearish development is the fact that the equity-only put- call ratios have rolled over to sell signals both normal and weighted. While the put-call ratios have not been a major factor lately, as the market has moved back and forth in its trading range, this is still a development worth noting. The bottom line is that the trading range scenario is still intact barely. A clear close below the bottom of the range could be nasty, given the potential sell signals that we are seeing from a couple of our indicators. Don't anticipate, though. Bearish positions should not be taken unless the major indices close below the bottom of their trading ranges. = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = == = = Upcoming Events: 1)NEXT WEEK! THE ONLINE TRADING EXPO -Come visit us in Booth #542 (back center of room) for show specials and discounts! Click here for your FREE pass: optionstrategist.com 2) October 12-13 The Market Legends Seminar optionstrategist.com A unique opportunity to spend time with three experts; Lawrence G. McMillan, John Murphy and Martin Pring all under one roof for one weekend. Next Online Seminars: optionstrategist.com 8/21/01 (EVE) Advanced Spreading Techniques 8/29 Insurance Using Options = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = This is an opt-in free email. All recipients of this email have either purchased products from McMillan Analysis or requested this message be sent. If you would like to be removed from this list simply click on this link and enter your email address into the appropriate form: optionstrategist.com The Option Strategist optionstrategist.com info@optionstrategist.com 973-328-1674