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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Clappy who wrote (69337)	3/21/2003 8:37:21 PM
From: Shack	Read Replies (1) \| Respond to of 209892

Put away the sell button clappy, especially if we get beyond 8580 indicting a massive 3rd wave extension in progress. I can't believe I am saying this but I am pricing JPM calls.

To: Clappy who wrote (69337)	3/22/2003 5:21:16 AM
From: AllansAlias	Respond to of 209892

I tell ya one thing that Max Pain stuff means diddley. Especially when the PPT owns most of those calls north of Max Pain. <g><ng> Saving the market is expensive. A lot of patriotic covered call writers paid for this one. I think maxpain is a decent magnet when we are correcting, which, when you think about it, is most of the time. However, when an impulsive wave kicks in, it doesn't care squat about maxpain, the PPT, or patriotism. All of the excuses sound, well, like excuses. The bears have had a wonderful couple of years. I think the market is a bit like an organism, complete with an adaptive feedback loop. Once a pattern of behaviour becomes obvious to the bulk of participants, the market changes. In bear markets, this feedback loop runs on a smaller timeframe. Bears need to learn new tricks. The NASDAQ already followed the 1929 script into the October lows. Good job. Crash done. 18 months of slop would be a nice response to this widely recognized pattern. In November, I thought we'd get as many as 18 months of slop in the wide timeframes before the lows we blew threw the Oct lows to the downside. So far, it's only been 5, and hell, XMI went back to the lows, so I still have a hard time seeing how it could stretch to 18, but hey, if I could clearly see it, I sure as hell wouldn't be wasting my time in a job and hangin' out on trader boards. -bg/ng Nice trading on the '1' clappy. (Stop looking at those calls you sold! -g/ng) Cheers