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To: Lucretius who wrote (62364)	9/16/1999 2:20:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 86076

yep...i'm buying December expirations lately. i got burned on a lot of September puts and there is some cycle prognosis out there that argues for a rally into late october. however, i believe the cycles are out of whack. if i'm wrong, Dec. should be far out enough. i have studied historical a/d divergences in detail, and the current one looks very very dangerous - especially the weak a/d showing during the rally off the August lows. with rallies getting ever narrower and the typical late stage sectors(oils and semis) leading, i'd be very uncomfortable being long. and if it's not an environment to be long in, one should be short. trannies and utilities are leading the way.