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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (5440)	11/14/2001 12:30:16 AM
From: mishedlo	Read Replies (3) \| Respond to of 99280

LTK - Max pain this month is simply wrong IMHO. Actually, max pain is hardly ever wrong, it is speculation about who owns the calls and puts and whether or not the MMs are long or short is what is wrong. I believe delta hedging has caused this runup. Either that or people were 1) shorting calls 2) selling covered calls In either case above, the MMs want the market to rise. The ton of calls at IBM strike 120 caught my attn. IBM seems to be rising like a magnet to 120. We seem headed higher this week and I will suffer because of it. If IBM breaks 115 to the downside tomorrow I will change my tune, otherwise Next stop could be Dow 10,000+ ng Right now, everyone says we fall next month and go to the moon in Jan. Right now, I wonder if everyone is wrong. Why not a continued rise in Dec and a huge fall, say mid Jan? right now, I am sticking with turnips call, but as best as I can see it is still "3" steps forward and 1 step back rather than "2" steps back one step forward. ng Zeev, feed then turnips please. M M