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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (13682)	7/22/2002 10:16:49 PM
From: russwinter	Read Replies (1) \| Respond to of 19219

I went ahead a bought a half position today in RD as well at 41, and P at 46 and change. Had some MRO left over that I bought last Dec, but didn't unload and so averaged down at 21.50 to a full position. I think those are compelling values here, but the problem with those names in the short term may be that they are getting caught up in the index selling that I spoke about as being a risk per my June 3 post. Just too much money trapped in indexing trying to find the fire exit. Best bets in energy may be non-S&P 500 names? I think that's true generally as everybody has sold the more obscure stuff and "no earnings" plays already. JT's been kindly posting the Rydex numbers and about 85% of the 2000 asset level in biotech is in money heaven. Of the Joe and Martha Sixpack crowd, who really own biotech now? Nobody, and as a result they have been started to be better relative performers (at least they're flat) since end of June. Right now they are just drifting on the quiet end of the swimming pool away from where the drunks are thrashing around and drowning. Joe and Martha are getting down to the so called "solid" names like JNJs, MSFTs, and the Citicorps ( I covered my JPM short today) and that may take awhile as there is so much money in those.

To: marginmike who wrote (13682)	7/22/2002 10:39:22 PM
From: verdad	Read Replies (1) \| Respond to of 19219

Are you just looking for a ST trade on RD? July 18, 2002: Royal Dutch Petroleum is making a rare appearance on the most-active put list this afternoon following some heavy volume across several exchanges. The stock's August 40 put has seen more than 22,000 contracts change hands so far today. The majority of this crossed three blocks of 5,000 contracts at a price of 1.05, which was between the bid and ask prices. We shall have to wait until tomorrow to see how much of this activity translates into new positions. Prior to today's trading, open interest for this put stood at 20,313 contracts. Options players remain extremely pessimistic toward the shares, as the Schaeffer's put/call open interest ratio for RD checks in at 1.65. This reading is more negative than 99.6 percent of those taken over the past 52 weeks. In addition, the number of shorted RD shares rose 16 percent over the most recent reporting period to 7.8 million. However, all short positions can be covered in just over three days of trading at the stock's average daily trading volume. Technically speaking, the security hit a near-term low this week at 44.25 and has since been attempting to rebound. The shares still face potential resistance at their declining 10-day moving average