Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Shack who wrote (81081)	9/10/2003 6:04:54 PM
From: mishedlo	Read Replies (1) \| Respond to of 209892

Shack I do not know. I went to bed certain of a gap up and was shocked. But I did buy a spoos put near the open when we gapped down two days ago and it did not fill quickly in spite of a very very low trin/trinq. It became obvious that they were unloading big time to dip buyers. Well out of the money DEC put cause I did not want to risk much. I also wanted something I could hold overnight and was damned happy and surprised to see two consecutive gap downs. I was away for most of the afternoon but figured we would break 1015 and put in a bid to sell for a very nice two day profit. It filled. I am in quick hit mode on the short side and if we go higher it is fine with me. I am happy with my profit on that play but wish I had more. Actually I hope for and expect a gap up tomorrow and a morning run. I think it will fail. More than 3 days down is asking for too much and then we retrace and see how it is handled. For I all know we will not see 1030+ again in our lives, but that is not my call. I do doubt we can get much higher but I am unwilling to quantify "much" at this point. I think Bush was just too damn early in his re-election stimulus and it is going to run out of gas by no later than March of next year, and possibly as early as two days ago. M

To: Shack who wrote (81081)	9/10/2003 6:42:30 PM
From: The Freep	Read Replies (1) \| Respond to of 209892

OK, here's something that I guess either goes in the bullish camp OR in the "they're finally right!" camp. I just looked at the QQQ options series in October. I decided to add up the calls and puts from 28 to 38 (sandwiching today's close). I also only used hundreds and up (so 22891 was 22800 in my calculations, figuring that it'd be close enough). This does NOT include today's action (which appears to show 49K plus on Oct 33 puts, though I don't know if that's closing or opening). Anyway... From 28 to 38 on the QQQ we have 288,000 calls 915,100 puts More than 3 times as many puts, eh? It's not until QQQ 35 that you find a strike where calls outnumber puts. Heck, there are more puts alone at 30 than there are total calls from 28 to 38! Now, I admit I don't know that this is conclusive proof of anything other than there being a lot of puts out there, but I'm curious if you or anyone here has any take on this? It almost makes me a believer in MC's AAC <g> the freep