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To: ajtj99 who wrote (48943)	8/4/2002 12:22:49 AM
From: Shack	Read Replies (1) \| Respond to of 209892

Who said I don't respect Max Pain? I'm a big believer in it. I think 24 is going to be strong resistance due to MP. I am expecting it will drop to 23 BTW.

To: ajtj99 who wrote (48943)	8/6/2002 12:55:19 AM
From: mishedlo	Respond to of 209892

Pain dropped to 23 today (well 23.5 to be precise but it was a drop and call enormously outnumber puts at 24 and 25 and although 23 and 24 are a tossup, I prefer 23 because calls outnumber puts at 23 now). High side is 24 not 25. Low side is now 22+. Actually for the most part we have just tagged pain before dropping. One month we missed(June) and one month we kept going (the last CSCO "blowout") There is no real options incentive for a rally here (except to QQQ 22+ 23-) and that is a weak one as there just are going to be more calls that puts that go ITM at 23. M