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Non-Tech : The Woodshed -- Ignore unavailable to you. Want to Upgrade?

To: nspolar who wrote (2222)	3/10/2004 12:41:20 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 60910

not the volume, open interest. Old chart, but valid for the explanation: lvlamb.itgo.com Thick blue line is the total open interest in all contracts. Magenta axis line is a stadard deviation channel. Look at May-July 2002 and Aug=-Sep 2003 (less around Jan-Feb 2003): there was a peak in open interest above the standard deviation, up to +2 devisation which came back down. After Nov 2003, there was not such a peak in OI, it is going gradually higher (around the greed dotted line) while the POS is rallying much faster. Further, even today, we have way to travel before OI reaches +2 deviation as it did in Jun and Jul 2002 and later in Sep 2003.