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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Mark Ivan who wrote (17776)	4/29/1999 8:14:00 AM
From: Cynic 2005	Read Replies (1) \| Respond to of 18056

Some one asked me the same Q in a PM afew days ago. Here is what I said: --------------- OEX options (apparently on low volume) represent institutional purchases and equity options are dominated by individuals. Both are, in general, contrary indicators. One can make a case of extremely bullish market based on OEX P/C ratio and somewhat bearish case based on equity P/C ratio. Since this is a 10 day MA, we may already have reversed the trend. I will check the numbers for the last 3 days. That is "traditional" stuff. Now, I can see the set-up to be picture perfect for "sell-to-whom" scenario. Some of the OEX puts bought by the institutions, often are sold unhedged - especially the ones that are sold after knowing the OEX P/C ratio is trending higher as they think it is free money (or so I read some where.) These are the folks that could make life interesting with dynamic hedging as the market falls. BWTFDIK? -g-

To: Mark Ivan who wrote (17776)	4/29/1999 10:35:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 18056

Mark, I thought I already ate crow on this one once. Nevertheless, the Turnips have changed their target for the swoon to 9400 or so, a little more than 1000 DOW points, but no excuse for their misbehavior and missed call on the swoon starting no later than mid April. They are already two weeks late if you look at the DOW. Of course, the NASZ and particularly the SOX has not done anything to write home about in the last two weeks, and the latter is being set up with some stock already breaking upward trends in a big way (AMAT for instance). When they try and call all the zigs and zags, they do err a good chunk. Zeev