Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Crimson Ghost who wrote (32538)	2/22/2002 6:56:06 PM
From: ajtj99	Respond to of 99280

George, they did the same thing this summer when they defended the Dow 10,250 level, as I believe that was the average price of the Sept. futures contracts, while the Nas crapped. As soon as that 10,250 level broke, the bottom fell out. table.finance.yahoo.com Paul Shread says the average price for Dow futures contracts for March is between 9800-9850. That's why we see that level being defended. If it can no longer be supported, the MM's will delta hedge it down hard. I believe one of the things to watch will be how long they can hold this up while the Nas is melting. It is not a coincidence that some of the major support levels also are options strike points - 9600, 9800, 10,000, 10,100.