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

To: Justa Werkenstiff who wrote (18829)	12/8/2002 8:49:26 PM
From: mishedlo	Read Replies (2) \| Respond to of 30712

AJ: All I know is that they were trading the cubes pre-market as low as around $25.60 but that price could not bite as we got as low as $25.74 in the opening flurry which raises a very interesting max pain issue as they hit max on Friday. Max pain hit on the exact nose. I believe I had max pain at 25.60 exactly. I am not going to look but I believe I was just above 25.5 (or was I just below it). At any rate, I was pondering this. Did THEY take us down to max pain early, accumulate enough shares low to cover their asses and take us back up. Right now there is no max pain play. I want to see us 1.5-2 points above max pain and a strong move in that direction (starting Say Thursday). Bear in mind, the closer we are to max pain, the more delayed the drop/rise is likley to be. Best guess here is there will be no real play. We chop around up down and around, going nowhere, while vix/vxn drops and bulls and bears both get frustrated. Then we get a sudden drop to pain all in a single day during expiry week (MONDAY perhaps) which of course will leave everyone wondering which way we go from there. Take that with a grain of salt of course but we already missed the good play cause the MFers did it a week earlier than they normally do. M