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To: Paul Shread who wrote (49762)	8/12/2002 10:53:23 AM
From: AllansAlias	Respond to of 209892

The other thing I noticed was how many chart-chasers were picking Friday as a s-t high. The crowd I am talking about is not necessarily contrarian, but they are often one high too soon.

To: Paul Shread who wrote (49762)	8/12/2002 6:01:22 PM
From: mishedlo	Respond to of 209892

PC ratio is most often useless. It is really useless OE week when positions are closed, rolled over etc. People taking profits on puts or rolling them over will skew the PC ratio. What is important is Open Interest and Max pain. Max Pain They hit on the nose across the board pretty much today. INTC 17.5 QQQ 23+ (I have to laugh cause my guess was 23.4 middle of last week). We closed at 23.4 today. MSFT 47.5-50 CSCO 12.5 (the only one that did not hit). Now do they pin it here for expiry or does it break one way or the other? Because of enormous call options a break to upside seems unrealistic. Note that they have kept this pinned for 3 days now. M