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

To: Zeev Hed who wrote (40281)	3/12/2002 7:35:47 PM
From: Jim@Inland	Read Replies (2) \| Respond to of 99280

Zeev, selling the puts for 40 cents would commit them buy the stock at under 12.50. So their net cost is 12.10. Do you feel that CMVT would be a buy at that price? Obviously it wouldn't be if it was trading at 11.00? I guess my question is: " is there any price that could be safely paid for this stock?" TIA Jim

To: Zeev Hed who wrote (40281)	3/13/2002 4:56:50 AM
From: John Pitera	Read Replies (1) \| Respond to of 99280

Hi Zeev, The TRINQ did something very unusual today. Looking at a 1 minute candle chart the TRINQ opened above 5.0 (Heavy, heavy sell/ to buy volume) and rose up to 7.80 within about 6 to 7 minutes. It then stayed above 5.00 for about the first half hour of the trading day. The TRINQ managed to stay above 2.00 all day and spent more than half the day above 2.75. looking at the last 60 market days of one minute TRINQ bar charts. 1) we saw the highest levels (most intense selling by this metric) since 12-19-01 2) we have not seen the TRINQ stay above 5.00 for the first half hour during the last 4 months. 3) The average TRINQ reading was higher than the second highest day -- Feb 15th was the second highest. What really surprises me is that with a real barrage of volume based selling this morning, while we opened down hard, we did not see the follow through that one might think would occur. Now it may be that triple witching options unwinding, which typically sees a heavy day the Tuesday prior to expiration Friday had something to do with this. The TRIN also saw the highest reading of the last 40 days in the first half hour of trading. Loking at this one metric, I'm surprised we did not see more substantial price damage. My most likely analysis of this is that the market has some strong underpinnings right now and hence, even aggressive selling today, was unable to do real significant price damage. John