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

To: mishedlo who wrote (48830)4/8/2002 11:50:27 PM
From: ajtj99  Respond to of 99280
 
Mish, I think the MM's see the weakness, and will try to get to just above Max Pain (maybe NDX 1410-1417?) and short it, letting it drop into expiration. I think it will be just too hard to prop it up much after Wednesday. This is just an oversold bounce with some short covering. The major support levels were breached, and the weekly was blown. This will be tested again, and I don't think it will hold.

New Lows at 70 today. Hardly bullish.



To: mishedlo who wrote (48830)4/9/2002 6:05:07 AM
From: Justa Werkenstiff  Respond to of 99280
 
Mish: I doubt a good many of the boys expected the IBM earnings shortfall and were positioned for it. No time for downgrades and positioning before the open. It is big news, especially the guidance as the tentacles of IBM are far reaching. Asia seems to have taken that view last night.


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