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To: coug who wrote (51311)	7/13/1999 9:00:00 AM
From: John Pitera	Read Replies (3) \| Respond to of 86076

Coug, Yes, Argentina is just part of a bigger problem that has always been with us but, we have just sidesteped for a number of months. I was reading through the Systems and strategies thread last night and the guys there were sensing something was up yesterday and many were getting short, pondering the notion of shorting the SPU9 or nervously watching their young ducklings ( long positions in the Sept SPX) that did not have a lot of profits built up in them. The way that the bond acted, yesterday with the big price breakout is making many wonder what trouble is lurking, other than a very overvalued US equity Mkt.