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To: The Freep who wrote (37736)5/2/2002 3:55:07 PM
From: ajtj99  Respond to of 209892
 
Freep, the trading range is intact still (1640-1695 COMP). I believe this new low sets up new lows down the road, but maybe not right now.

The put/call seems to indicate a local bottom here. They could probably release that unemployment is 50% tomorrow and the market will go up, IMO.

This whipsaw action may continue for a while until we break out of this range. I would anticipate an eventual breach of both end of the trading range, but I don't know which comes first. The high of COMP 1692 is the next target to test. It's like a yo-yo.

BTW, what was the move after the Fed announcement that is the real one? Is it the 4th? TIA.



To: The Freep who wrote (37736)5/2/2002 4:02:15 PM
From: Shack  Read Replies (1) | Respond to of 209892
 
Now we get the high P/C's but VIX/VXN/QQV are not up all that much. Why can't they all get along?

Anyway, I think all the ingredients are there for a short-term bottom, good volume too. I would buy here if it was not so late in the day.


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