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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: c_hl who wrote (7934)	10/12/2005 1:31:15 PM
From: TFF	Respond to of 12411

"SPX ran through verical and hit lower wall. That is a very bearish sign. " yes but where it closes is more significant.

To: c_hl who wrote (7934)	10/12/2005 2:20:05 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 12411

Agreed... this market may only see a minimal bounce, if at all... GZ

To: c_hl who wrote (7934)	10/12/2005 4:32:00 PM
From: Real Man	Read Replies (1) \| Respond to of 12411

With options expirations next Friday, the indices have a lot of upside from the options max pain perspective. There are a lot more October puts in the money than there are calls. October Maxpain says QQQQ could go above 39 by next Friday. SPY Maxpain shows 1230 level by next Friday. I'll plot a spiral later today to see how that sits with it. One has to be careful with maxpain, though. In most cases a rally to these levels will occur in expiration week. However, in some cases (less probable), if maxpain is severely out of whack to begin with (such as it is now), the selloff could continue into expiration, and even intensify, with the rally after expiration.