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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (2223)	11/19/2004 9:08:53 PM
From: Walkingshadow	Respond to of 8752

I don't watch TV or read the newspapers much, and don't exactly follow the news... but I do have sources of information that is relevant to my needs, doesn't involve people with hidden agendas, and so I try to skim a lot to get some idea of the "pulse" of the market participants. A lot of that involves surveying wildly different markets... overseas markets, Forex, futures, commodities, etc. I also like to try to get some feel for market internals and sentiment shifts, since these can often modify chart/technicals somewhat. A very good example of this was the last couple of weeks with QQQ..... a cursory look at things would have probably led one to predict a correction when technicals/chart/internals indicated this was an increasing probability. But sentiment and momentum over-rode these, and this was reflected in the strength of the move and the evidence we have seen of accumulation over the last several months. e mail me anytime at Bottlerockets-R-Us@IceCreamTrading.com <ggg>

To: Vendit™ who wrote (2223)	11/19/2004 9:15:42 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

Interestingly, the max pain point for QQQ today was $37.00. It is rather unusual for QQQ to go into expiry trading significantly away from the max pain point.... this was one week where that happened. As of yesterday's close at $39.29, QQQ was about 6.2% above its max pain point, which is rather great for QQQ. That will tend to cause the options pits to generally try to push the market lower. Often they cannot do so alone, but still this was significant, a conclusion that is consistent with QQQ's performance today. T