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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call -- Ignore unavailable to you. Want to Upgrade?

To: Win-Lose-Draw who wrote (3688)	2/24/2003 11:06:31 PM
From: mishedlo	Respond to of 11447

to me this still looks like the next big(ger) move will be to the upside. From what level? I think the next big move could easily be up, but not from here. Look at the puts and calls on the QQQ clustered at 25. 170K calls and 270K puts Where are we going? Most likely nowhere. But... What happens if we fall to QQQ 23 first and those puts go scrambling to cover? That will send us soaring. Right now as we sit, I see no fuel for a rally. We can get a nice snapback if we sink first but overhead resistancve seems strong right now, and only options expiry manipulations on weak volume saved the day this month. M