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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Ron McKinnon who wrote (38415)	2/11/2002 3:57:12 PM
From: Beachside Bill	Respond to of 53068

Thanks Ron, had a feeling there was no way but thought I would ask.

To: Ron McKinnon who wrote (38415)	2/11/2002 6:39:42 PM
From: E.J. Neitz Jr	Respond to of 53068

Fierce Action Today From Put Sellers (Article) By James J. Cramer 02/11/2002 16:37 -------------------------------------------------------------------------------- Put sellers galore! S&P put sellers in particular. That's what I saw today. That's what I saw from the beginning of the day on. I think that the shorts, fresh from six straight down days, had pressed their bets, but without new, fresh information, negative information from say, Tyco TYC , or from a new scandal, those puts are going to go unrequited. Why? Because, no matter what, when that oscillator gets to be too negative (if you need to see the oscillator, an instrument I love, just check in with the StreetNotes product, which has a level everyday) you simply can't make good money on the short side without new, negative information. Why is that? Because after six down days, lots of managers just come to work and say "there must be some bargains out there, there just have to be." That "bargain" mentality then runs smack into those who would been making money on the short side with puts. Today, when the market started rallying, I saw waves of put selling, particularly in the indices. When the market got stronger midday, that put selling just intensified. How long can that put selling last? Judging by the ferocity of the selling, I think that it might almost be done. Another day and that will be it. Enjoy it while it lasts. Then we will be back into the up a little, down a little market that has defined things post- Enron . --------------------------------------------------------------------------------