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

To: jjstingray who wrote (25696)	1/23/2003 11:58:31 AM
From: Softechie	Read Replies (1) \| Respond to of 30712

If $INDU closes below 8250 then neckline is broken...

To: jjstingray who wrote (25696)	1/23/2003 12:17:08 PM
From: ajtj99	Read Replies (2) \| Respond to of 30712

I noticed all the index puts and the lack of corresponding calls for Feb and March. Most of the index puts is smart money hedging long positions, and we normally don't get call buying from them until we get close to previous macro lows. May comes to mind, for example. We got close to 1088 NDX, which was the Sept. 2001 low, and call buying kicked in a bit. I think we're going to have to get close to a macro low before we see index calls going out the door. I think NDX 864 might trigger it.