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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Challo Jeregy who wrote (1236)	9/17/2002 11:49:36 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 57110

I am expecting a drop and pop tomorrow. We should get some panic on the JPM news and then the cavalry should jump in. If we gap up, then I think we end down on the day. Either way, I expect tomorrow to be a very interesting day. P/C ratio is extremely high. I'd like to compare p/c ratios during opex to see how a ratio this high resolves. If the put sellers are naked, they would have to short the stock to be covered. That could add extra selling pressure. Then again, they can be hedged other ways. All the rules say we can't crash under these conditions...p/c ratio high, maxpain way above current levels, opex week. Since nobody thinks it can happen....maybe it can. But I don't think so, I think we have some down tomorrow and then rally into maxpain into Friday and then the markets get to scaring mom and pop starting next week.