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Strategies & Market Trends : Moufassa's Lair -- Ignore unavailable to you. Want to Upgrade?

To: Trumptown who wrote (12958)	4/29/2003 2:14:09 AM
From: James C. Mc Gowan	Read Replies (1) \| Respond to of 13660

Friday down 20+, Monday, light volume, up 27+ EOM gyrations continue working from O/S to O/B quickly. Nearing the IT top? Would be right on seasonality schedule, "Sell in May and go away" Also, at pretty significant O/H resistance area here. The EOM rally monkey kicks in. MaxPain tight btw 26 and 27 on QQQ for May expiry, we are closing in on 28. Let's push it up a little higher, bulls, right into EOM, beginning of May. Good timing. I am putting in a request for QQQ 28 +/- a little, in order to sell calls against common hedge position for May expiry, and get some poots, as well. Seems like a predictable play each month, big swing one way or other, shortly after expiry, into EOM, then the swing back. Big difference this month may be the IT trend influence of seasonality. Will buyers continue to show up post tax day/IRA funding, into the lazy days of summer? They usually don't and the boyz have made the lion's share of the annual 'Run for the Hamptons' pump job already. How much more can it be pumped on the 'better than expected' earnings? Still have old warhorse CSCO to work with. Extremes of trading ranges, happens every month. Considering the 3 year down trend, isn't the monthly volatility the only way that trading desks can profit and cover the bills, now that IPO and M+A are gone to zero? Does anyone really believe that the economy is in recovery? Interesting times. James