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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (70552)	4/18/2005 11:03:55 AM
From: Real Man	Read Replies (1) \| Respond to of 94695

I'm not counting. The LT charts are now bearish, though, until further notice. They are trying hard to reverse these signals right now, with another magic stick save. They may succeed, as they did in all of 2004. On the other hand, given that market action in 2004 has been supported by huge e-mini buyers, there must be huge leveraged long SP futures position out there. Given the behavior of VIX and VXN in the past 2 years, there are a lot of naked put shorts. Yes, put/call spiked, but who was buying? In other words, if they fail to stick-save this market, the implications of that could be a rather dramatic sell-off. I'm not sure I would count on oversold conditions to go long.