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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 (11337)	12/11/1997 10:46:00 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 94695

Bill I was watching the SPX, if you recall I was looking at SPX 950 range as a resistance point in seconf half of November and now it is a suport range. The downdrift of the last several days just cleans all the calls and the guys write some puts and swing to the March SPY contract at the same price <ggg> Usually down days before expiration week turn up toward the closing. On the 16 we have Korea elections and FED meeting. So everyone wants to go neutral into those days. It may very well be an explosive short covering toward the mid next week, they will clean everyone. Thats just my speculation. Sentiment gets bearish very fast on SI and also the VIX accelerated to the upside. For sure fundamentals get bearish by the day, but lack of retail sales in dicates that people are still hanging in. Also the IPO calender is almost empty which gives soem suport. BTW, I do not even try to trade the OEX as I am to slow for this game. BWDIK, Haim