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

To: Softechie who wrote (16476)	11/22/2002 1:10:23 AM
From: mishedlo	Respond to of 30712

Mish, Give us your latest opinion my friend I am numb. I also think there is a decent chance of a rally thru January. Perhaps one more pullback to max pain (if da boys want it). Max Pain is 25 but the sheer staggering volume of puts below 24 and below and calls 25 and above makes it hard to pinpoint a sweetspot. Anything in the 24-26 rage could end up being it. If bears pile on on the next decline It could push it to 26. IMO this is not a market to be messing much with. I would expect a pullback to 26 by expiry (provided pain does not rise). I doubt more than a 2 day selloff before a retest of these highs. stockcharts.com[w,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G It does appear that we are trying to go for a double top or a test of the August highs. Then when we are there will we have to test that 200MA or perhaps do a headfake above it? stockcharts.com[w,a]daclyyay[pb200!c200][vc60][iUi14,3!Lh14,3]&pref=G Of course if that happens are we in a "new bull market" with a higher high? It appears that the 200EMA would nearly correspond to a perfect double top. If one used that as a target we are close. Can they force us up thru Jan? Right now I am doubting nothing. M