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To: eabDad who wrote (520)5/11/1998 3:31:00 PM
From: Olu Emuleomo  Read Replies (1) | Respond to of 1316
 
Price action during the week sometimes generates a "shake out" of open interest, since not all
open interest has to be long. I would expect some wild gyrations this week, where we could see
anything between 43-49. Like L3, my bet is a shade below 45 at week's close.


Yup! This looks like a shakeout to me. The volume is poor (471K) considering the kind of price decline we have had today ($42 1/8). I think we will go down to the 200 day moving avg ($40) before turning back....

--Olu E.