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To: John Pitera who wrote (69281)	10/15/1999 4:49:00 PM
From: pater tenebrarum	Respond to of 86076

John, the VIX breaking 30 on a closing basis could be pretty significant. there was a lot of put volume today, but it's hard to tell how much of this was related to expiration...what's more, there was a lot of put buying in the equivalent '87 week as well. the most important fact to be gleaned from today's action is that there is still no fear at all out there...the pouring in of assurances from all sides is reminiscent of other significant downturns as well. nobody seems to think we may be looking into the abyss here...