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To: JRI who wrote (77173)	7/8/2003 4:37:55 PM
From: bcrafty	Respond to of 209892

JRI, in the headline for his article today James Cramer says "Put-Buying in QQQ Reaches Foolish Levels Overly bearish hedge funds trying to balance longs this way have forgotten what's happening in tech" I didn't read the article as I'm not a subscriber to thestreet.com, but at least Cramer is clear about his bias. <g>

To: JRI who wrote (77173)	7/8/2003 5:13:35 PM
From: John Madarasz	Read Replies (1) \| Respond to of 209892

I think it's important to realize that it's only a speculative observation, and it's just one piece of the puzzle, trying to make sense out of one sector in a very large market. Allan's opinion is that it's nonsense, and that's great. I'm not so sure necessarily. The market is bullish, and a trend is a trend, until it isn't. QQQ O/I put call ratio isn't the only hook that the market is hanging it's hat on regardless.... as far as I'm concerned Rainsford Yang from Astrikos puts out some quality material the vast majority of the time, and has pretty much called this market right on from the beginning of the year and then some. I'm willing to weigh his observations accordingly