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To: dbblg who wrote (64561)	6/25/1999 5:30:00 AM
From: GST	Respond to of 164684

Ganesh -- I have been noting the exact same things and took these things to be signs of underlying strength and direction. Now I am not so sure -- these are now the things that look like complacency to me. We are no longer debating the 6% threshold -- we are forced to ask 'what ifs' about 6.25, 6.75 and, gasp, possibly worse. This should already have provoked a sharper sell-off -- the lack of which appears to me to be very complacent. I couldn't stand it anymore yesterday (Wed) and went 100% gold calls in my spec account - couldn't stand the thought of owning puts even though that would be consistent with my call. So much of this is currency related -- I chose the gold play, even though most would see that as playing against longer odds than just going short -- good luck whatever you are up to.