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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Tiley who wrote (16996)	7/7/1998 11:49:00 AM
From: Clint E.	Respond to of 69720

Hi Manish; >>SAVLY sold off on relatively large volume - so how do you deduce that it is under accumulation now? Since the sell off took place AFTER end-of-month window-dressing, its ascend to $52ish was taking place on low volume during the "earlier" days of this Summer rally, and finally since so much attention/money has been sucked into the net stocks, I am not surprised to see it come back to 43. >>>Secondly how do you interpret out of the money open interest in stocks? The obvious answer is that traders are waking up to this Summer rally and expect it to go much further. If you are asking me if that is a contrarian indicator, my answer is No. Too early in the game to be considered a contrarian indicator. I think some people misunderstand when to apply that concept. Clint