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To: doug-e-mini who wrote (3639)	1/4/2000 1:31:00 PM
From: Gersh Avery	Respond to of 11513

thanks doug .. posted on another thread: To: Berney who wrote (7467) From: Gersh Tuesday, Jan 4, 2000 9:16 AM ET Reply # of 7472 In a "momentum is all that matters" market, bonds look pretty good right now. Looks like James was right about the fed. BOJ is playing with the exchange rates again .. timed well to work with the fed drain. Some very nice calls, Berney, option fulcrum pattern could still intact but will require a pretty hard pull back. Pattern sayz that we have a spike down from the high of 12/17 (1431.77) that is larger than any move up from the lows of that day (1418.78 to 1478 SPX.X). That would put the pull back target at ~1370. Time frame is within 20 trading days after 12/17. That is what is required for the pattern to remain intact. Seeking a short entry on this pattern has been painfull<g> Now then .. the fed is pulling back some of the liquidity that it injected .. the BOJ is also draining liquidity from the US markets. FWIW Gersh