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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: catflu2™ who wrote (29218)	1/20/2008 9:21:18 PM
From: t2	Read Replies (1) \| Respond to of 206760

Check out the Put/call for the next 3 months. Look up QQQQ, SPY etc..on Schaefers website. QQQQ put/call open interest at 52 week low. Hitting lows when the market has dropped so much. Looks like they are not rolling out their puts. That makes the market vulnerable. Seems to agree with the Najarian (CNBC fast money) thesis that hedging with puts is not happening beyond January expirations. They are deciding NOT to hedge. Although market "feels" ready for a nice rally, i would hate to be long without a lot of puts. Probably just to just stay short given the lack of fear in the indicators I follow..or... Puts and large cash positions. The lack of hedging has me bewildered ..and keeping me bearish. Big decline is a possibility (black tuesday?) given how Thurs/Frid played out. btw--maybe RedSun had his "black hole" mis-timed. schaeffersresearch.com