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To: Lucretius who wrote (69788)	10/18/1999 8:52:00 PM
From: Activatecard	Read Replies (1) \| Respond to of 86076

From KITCO Miro: I do agree with you that the PPT team was not behind the rally today.However, I don't believe it was institutional buying either. History shows that short-sellers tend to get out too early during a crash. I would suspect that some nervous short-sellers wanted to take their profits, and get out of the market ahead of the CPI report tomorrow. Periodic short-covering causes sharp rallies during a crash, but they quickly subside as the more dominant liquidity-squeeze forces holders of leveraged-long-positions out of their trades. Today's short-covering rally is probably over. A bullish CPI number could cause some more covering tomorrow morning. It that happens, the purchase of November S&P puts would be a gift from God. The dominant down-trend will re-establish itself before the close of trading tomorrow. Sell stocks, NOW. Regards, Steve Puetz