Replies to post #272156 on Zeev's Turnips Patch-No Politics (ZEEV)

[nancy2]

there are tons of call buying in QQQ 36 and 37 2 days in a row.

[jra2]

Do you agree that Jcom was being held down today ? I do see this one being let go soon .If they wanted to bring it down today ,they had their chance early morning when everyone was selling(my opinion only).What am I complaining about , at least it was green !

[onesevenus]

I am not overly enthusiastic about this bounce. Since 6/30 we had a steep downfall in Naz, and late yesterday/today's bounce was the only effective interruption of that trend.

As it happened in the past, next 2 or 3 sessions may confirm this box (1880-1922), and we'll see where the beast wants to go from there.

I would actually like to see a nice gap down and close of that bugging october 2nd, 1836 gap on a closing basis, and bounce from there. That could create a basis for some violent ramp up.

[ajtj99]

The big difference here, Zeev, was we had 2-Billion shares at COMP 1935 last week. I think that needs to be taken out with greater volume for a valid break of that level.

New lows did double top yesterday with the May low, so that's possibly something of significance.

Put/Call is really the fly in the ointment here. Max Pain on the QQQ is actually below the level we'll open tomoorrow, and the call buying off the low has been relentless on the QQQ and SMH. I believe that's smart money hedging on those issues rather than dumb money speculation.

One thing we've seen over the past year, whenever puts pile up, we tend to stay above them. When calls pile up, we tend to remain below them.