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

To: SE who wrote (16218)	4/13/1998 2:55:00 PM
From: yard_man	Respond to of 94695

I think it is going a little higher than was orginally forecast.

To: SE who wrote (16218)	4/13/1998 2:57:00 PM
From: eddie r gammon	Respond to of 94695

Scott Join the confused crowd (g). I think this is what some were looking for. A move up to the 1110 area then back down. ( I think) (g) erg

To: SE who wrote (16218)	4/13/1998 2:59:00 PM
From: RWS	Read Replies (1) \| Respond to of 94695

Corrective second waves are "allowed" to retrace all the way back to beginning of impulse wave 1. A few minutes ago I checked the price changes of puts and calls on SPX and noticed that put prices were barely moving down while call prices were rapidly rising. Does that mean market expects downside to resume and therefore is keeping put prices high while making those hoping for recovery pay a premium for calls? What's your interpretation? RWS