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


To: t2 who wrote (61798)5/4/2002 7:47:53 PM
From: farkarooski  Read Replies (1) | Respond to of 99280
 
<<I would consider myself lucky if I can get out without a drop on the markets at the open on Monday.>>

I consider myself the luckiest guy on earth when I wake up every morning and find myself alive ...



To: t2 who wrote (61798)5/4/2002 7:54:36 PM
From: LTK007  Respond to of 99280
 
<Hoping some of that max pain market manipulation starts Monday so I can get a chance to dump my tech longs and short once again.> Barring unexpected major bad news i agree with Mish the MMs are bringing this down in stages,(upsy/downsy within a downtrend) as they work their distribution and get their big clients out of the market.
And then the killer sell-off will commence.
But given the levels we are at now MMs best start the week on an up beat.
If you feel ill-at-ease, the open should at least be trying 1620 again, you should have time.
1580 remains a strong support area.Max



To: t2 who wrote (61798)5/4/2002 8:11:30 PM
From: mishedlo  Read Replies (2) | Respond to of 99280
 
NV I have stated many time that max pain can easily "fail" this month because
1) QQQ pain keeps wratcheting down
2) more importantly - options are very light on MSFT and light on INTC and CSCO.

What better time to tank the markets when delta hedging is easier because of light put options.

That said, time and time again we rally out of this situation, but I see no bounce here unless CSCO says something good.

M