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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (9945)	7/28/2004 2:08:53 PM
From: Haim R. Branisteanu	Respond to of 116555

Russia wanted a piece of the oil business in Iraq - If I am not mistaken Yukos received some business but not other companies. Aside Russia influence in the world decreased substantially and Putin wants to flex his power. There is also an outstanding row between Russian and Japan related to some small islands north of Japan - the land itself is not meaningful but territorial waters are as there are speculation of substantial natural resources beneath the sea level including rich fishing grounds Aside, Kamchatskya is a chockfull of natural resources riches for example

To: Tommaso who wrote (9945)	7/29/2004 12:36:51 AM
From: mishedlo	Respond to of 116555

Max pain on QQQ for August is 35. The interesting thing however is the lack of puts building up at lower strikes. A couple of months ago there were hundreds of thousands of puts at each of 5-7 strikes with more puts than calls at those strikes. Right now there are more calls than puts at 35 and 36 and only a single strike (34) where puts exceed 200K and just barely. My guess is this complacency means there is likely more room on the downside here. Taking a look at JPM, I see huge calls building up on it (realtive to normal) with almost no one thinking it can go down. What a contrast to a year ago. MSFT max pain is a definate 27.50 with huge calls at 27.50 and 30. Sept 27.50 puts are .45 (anyone like those?) CSCO options are extremely light for CSCO with far more calls than puts. Max pain is 22.5 but barring a huge rally (which I doubt, I would guess a close near 20) At any rate, for whatever reason, massive put buying has slowed. INTC below pain at 25 but more than 2 times as many calls as puts at that strike. Taking a brief glance ahead there are at least as many calls on QQQ and equities building up as puts. Is everyone believing the Presidential affect, or believing Greenspan about the strength of the economy? Mish