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

To: brightness00 who wrote (30202)	2/14/2002 2:43:35 PM
From: LiPolymer	Respond to of 99280

I hear Dick Clark is up today. Pretty good for such an old guy. <g>

To: brightness00 who wrote (30202)	2/14/2002 3:25:16 PM
From: mishedlo	Read Replies (2) \| Respond to of 99280

Who needs a rally? QQQ is nearly at 37 as I type. Mind you I have a different rule for max pain than most. We rallied from QQQ 35 to QQQ 37 1/2 in a few days, hitting or exceeding max Pain on the QQQ's which I had at 37 or 37 1/2 The powers that be had time yesterday, twice over QQQ 37 and ample time all day today over QQQ to short what they wanted, in which case they can now let the bottom fall off the market if they want. My Rule for Max pain is that if Max pain is hit during Expiry week, I chalk it up as a success. This is not the classic definition, but it is the one I use. They can hedge whatever way they want at that point or just stay flat. I expect a small bounce tomorrow to pull us up to 37, but if it does not happen, 35 to 37 1/2 was a major "success" for da boys. Finally, if we get any kind of small bounce tomorrow (providing we do not fall off the cliff here). QQQ will be right back at 37 on a closing basis. Will not take much, a rally in bios and software, would pull it off unless chips are horrid. A major success if they pull that off. Looking at the selloff in the "Q" and bios, I am trying to figure out how they managed to keep the QQQ propped up. M