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

To: James C. Mc Gowan who wrote (60059)	5/1/2002 6:34:21 PM
From: DebtBomb	Respond to of 99280

Ha ha ha, LMAO, BPSPX and BPINDU closed down again today. BPCOMPQ + .03. Enough said?? Let's see how the dollar does tomorrow. ;-)

To: James C. Mc Gowan who wrote (60059)	5/1/2002 6:50:00 PM
From: mishedlo	Read Replies (1) \| Respond to of 99280

Mish: what if we already had the MaxPain rally today on the Arafat bump? Technically we too early for a max pain rally. Max pain rally is a "hard to define" concept and I have no formal parameters for it (or for a Max Pain decline either). However, the further we are from max pain, the sooner a rally is likely to occur. Right now we just a SINGLE gap up and BS rally from max pain. Thus what we saw today was noise. Sort of. Notice they prop up MSFT at 50 and INTC at 27.5 etc. QQQ is very close to max pain. CSCO is an anomoly BUT... way way more calls than puts at strike 15. Hmmm . Max pain APPEARS to be 15 but what if a substantial portion of those strike 15 puts are owned by the MM's (people shorting puts). With a huge block of calls on CSCO at 15 (way more than puts) that puts an upward block on CSCO at 15 - WITH NO FLOOR (if a big portion of the puts are short). Unfortunately, that information is not available. Now, if CSCO fails max pain badly this month, the people will see a "max pain failure" when I will suggest we do not understand the true nature of the puts. M