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To: sun-tzu who wrote (150405)	2/9/2002 7:09:25 AM
From: maceng2	Read Replies (1) \| Respond to of 436258

news.ft.com

To: sun-tzu who wrote (150405)	2/9/2002 2:00:42 PM
From: mishedlo	Read Replies (1) \| Respond to of 436258

We turned sharply up on volume at QQQ 35. Let's consult the authority. www.cboe.com hmmm I see 60,000 puts at Feb strike 35 and only 30,000 calls Last time I checked I had QQQ max pain at 38 Looking now, I see it is more like 37-38 Let's look at INTC 56,000 calls at 35 and 19,000 puts The call buyers did not have a chance in this sideways market. Let's look at INTC strike 32 1/2 26K calls 20K puts. hmmmmm Is that why INTC did not rally much when we shot up like a bansheee on Friday? Looks like they got INTC pegged where they want it already. Let's look at CSCO 119000 calls at strike 20! Insane optimism and it was justifiably rewarded IMHO. How many of those calls were bought on the "news leak" LOL. A mere 28000 PUTs at strike 20. Let's look at strike 17 1/2 54000 CSCO puts at 17 1/2 32000 CSCO calls at 17 1/2 I would guess the crooks manage a small rally in CSCO to about 17 1/4 Let's Look at MSFT I see max pain at 65 with 35K calls and 39K puts. Will MSFT lead the next charge up? Now for some charts MSFT stockcharts.com[e,a]dacl... Look at that hammer. I suggested MSFT as the "tell" for whether of not QQQ 35 would hold. Late in the day, huge buy programs kicked in with MSFT exactly at 50% retracement levels from Sept Bottom. QQQ stockcharts.com[e,a]dacly... Solid late day bounce off support at QQQ 35. A bounce to the middle bollinger band at QQQ 37 1/2 oddly enough would be a bounce exactly to Max Pain. Bios finally picked up. PDLI stockcharts.com[e,a]dacl... AFFX Look at that gap! So many gap watchers that the damn thing did not completely fill. Will that satisfy the "gap gods"? Well at least for the time being probably stockcharts.com[e,a]dacl... $BTK Support right at 450 stockcharts.com[e,a]dacly... Now - what to do Personally I do not want to be short much next week (unless we take out QQQ 35 again on the downside. Chips look pretty weak. When does AMAT report? That could throw a damper on chips. So if we rally to 37-38 bios, garbage, and MSFT could lead the way. M