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

To: brightness00 who wrote (61134)	5/3/2002 4:46:08 PM
From: mishedlo	Read Replies (13) \| Respond to of 99280

Unless we get a black Monday, I'm not even gonna bother covering. Why bother, we are just gonna lose 20-40 NAZ points a day. I have been shorting since QQQ35 (thanks Mish for your max pain analysis), more shorts every half point down. Wrote some QQQ32 puts when it was near 32, pocketting $1 premium, so I effectively covered some of my shorts at 31; obviously too early. So when it bounced back to near 32, I shorted more to account for the puts that I wrote, more shorts again every half point down. I will most certainly continue this exercise until we get a massive down draft, like a Black Monday. I think the MM's are delta-hedging this month big times. No Black Monday means more aggregate down next week. Thanks brightness I got a PM from someone today bashing may max pain analysis and when I asked why, got a PM saying it was not worthy of a response since I ony trade hundreds of shares (as opposed to thousands I suppose). At any rate, glad to see someone appreciates the effort. But franking I am tired of the bickering, the critical PMs I get, reading thru 500 posts, etc, etc. I believe I made my point (others do not see it), and I also stated the reasons why I expected that max pain COULD (not necessarily will) fail this month, so far on target. CSCO good news could cause a huge snapback rally easily. Congrats to all those able to trade thousands of shares when I can not. M