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

To: ajtj99 who wrote (64364)	5/9/2002 6:24:09 AM
From: Justa Werkenstiff	Respond to of 99280

AJ: Re: "Justa, what if they take this down to COMP 1625 or 1600 by Monday?" When I said it could turn as soon as today, that is one scenario I had in mind. There would be a few days of down and then a pop back up during expiry week. So I think it is a good point. It has happened before in this environment. Then on the rebound we get a few days of distribution at this level and we resume the trend. Re: " I believe that's what may be in the cards. If they do that, they'll make bulls sell and shorts emboldened. They can then ramp again on AMAT and take it up and past 1696 COMP. Once that happens, we could run up again into expiration and kill the put holders. It all can work." I agree. Re: "The whole thing is that the market was extremely oversold, and we tend to get 10% rallies off the first day's close when this happens off an a non-capitulative bottom." I don't remember when the last time was we had such a huge rally on one day.