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

To: brightness00 who wrote (57305)	4/26/2002 3:31:40 PM
From: jjstingray	Read Replies (3) \| Respond to of 99280

If they have to Delta hedge, this market is going down and down hard. I think we will bounce on Monday.

To: brightness00 who wrote (57305)	4/26/2002 6:38:37 PM
From: mishedlo	Respond to of 99280

My model called for hell in a handbasket while others called for a rally. It is too early to tell whether or not they intend to hedge this mess or rally us. Note thatP/C ratio today showed amazing amouts of equity call buying but I do not know what months. QQQ max pain has dropped to 34 from 35 and a drop to 33 is not unexpected. If we bounce I think it will come late and barely eek out a rise to pain (if it gets there). Doubt MSFT makes it to pain at 55, but I think 50 gets protected vigorusly INTC at 30 CSCO at 15 QQQ at 33-34 That is about as high as we can get and that is not that huge of a bounce. Things will be more clear in a week, but if we fall to QQQ 29-30 and start to bounce on volume, I sure as hell would not want to be short high beta stocks. Basically I think a minimal rally to pain takes place, perhaps not quite getting there, then we resume down. This can change if we see some -1000 tick counts and fear, both of those have been lacking. M