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Hello
I doubt a pension plan bought today.. the day we had up vol./down vol. of
almost 10 WAS the pension plan buy..
today's total volume on BOTH NASDAQ and nya is NOT convincing,,
Also there is a bearish divergence for Mclullen osc for BOTH vol. and
issues,,
The day we close cash at 1071.38 it was 144 and now with a close of 1080.99
and the reading is 140..
Add to that a lot of call buying,, and a 10 day NASDAQ trin at a 34 day
low,, adds up to,,,,
A higher hi for BOTH but AFTER a pause to refresh
from today low to the top intra day NASDAQ will do 7%
and from today low to the top sp500 will do4.86%
Another way to see if there was a big buy program is to check theopen
interest on the 1075 Oct calls and 1080call tonight
and again tomorrow after 830am EST
(that is when the cboe updates the OI..
If vol.'s and oi increase then you may be right
best regards
Ben
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, October 10, 2001 8:27 PM
Subject: [RT] General - pension fund buy programs
> What is the truth of the rumor that it was a pension plan buy program that
> set the ball rolling today? From all the stuff I look at the timing seems
> to be a bit premature for that. I like Earl's explanation of "Exchange
> Stabilization Fund", but there might be another reason. Perhaps a few
weeks
> from now today's move might reflect the movement of a country's treasury
> running to safety. Its been made public that the Saudi Prince has been
> buying AAPL again. Its one of his favorite trading vehicles, in below 20
> out above 40, etc. over and over again. A move like today should have had
> bigger reverberations in the equity options markets, but it didn't appear
> to. It just really smells like someone is trying to terrorize the bears.
>
> bobr
>
>
>
>
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