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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Jeff who wrote (4949)	8/8/2002 4:53:18 PM
From: exp	Read Replies (2) \| Respond to of 30712

Jeff, it's VERY important to realize that MMs have exactly the same purpose as we do here ... profit from large up/down moves due to induced high volatility ... that's why we trade ndx, sox, etc. ... high volatility is the hallmark of these indexes and even spx/dow lately ... they also make it easier for us by inducing large moves around options ex and eom ... surely we cannot predict all their moves ... but neither can they ... point is, if they didn't induce volatility no one would make any money trading ... and the good news is ... it's gonna be like this for years and years as there won't be any new secular bull market anytime soon ... in fact, avoiding japan-like situation would be a major success and i'm not optimistic here either ... so, let's take MMs games with a grain of salt ... no, let's thank them actually for allowing us to make money trading volatility

To: Jeff who wrote (4949)	8/8/2002 6:53:27 PM
From: Lone Ranger	Read Replies (1) \| Respond to of 30712

Jeff, iqauto.com mp spx hit, mp 900, now 905 hit mp qqq 23-24, now 23.57 hit mp ndx 975, now 947.24 What does this mean? Lots of overhead supply and resistance as we move up. Retrace tops are resistance too. If this market continues to move higher there will be a lot of nonbelievers. Contrarily speaking just as it should be so most people get screwed. It will be interesting to watch the action the next few trading days. If this move is for real I'd expect the comp to confirm the move. Maybe a lot of selling has been exhausted for a several week ramp but I find it hard to believe in the move, with the comp as a laggard.