Huabao International (Hong Kong Stock Code 0336)

Though the ratio of the outstanding HSI callable bull contracts to bear contracts has decreased to 57:43 yesterday from last Friday's 67:33, two-third of the HSI bull contracts (or one-third of bull/bear contracts altogether) are distributed between 18,800 and 19,100. If the market has not bottomed, after the recent rebound, when the index goes south, the big players may push the index down to 18,800 to make big profits.

(Hong Kong and Shanghai time 3 pm Thursday, May 17, Report by CSV)