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Strategies & Market Trends : TIMING INDEX MUTUAL FUNDS -- Ignore unavailable to you. Want to Upgrade?

To: Bald Man from Mars who wrote (88)	2/8/2000 5:35:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 428

Well I am trying to join you. I had low bid on QQQ puts that was hit but Waterhouse is telling me no fill. CSCO up 6 after hours so they may be doing me a favor. Regardless, I don't have my data in yet but I am pretty sure we just hit my target for the NASDAQ and NDX and should head down from here. If we get a morning pop up, I will most likely be going short the NASDAQ adding more each day until it breaks. Like I said, no data yet so I may change my mind but after a few days of nibbling on puts with very low bids, I have been making my bids a little more realistic and hitable each day and tomorrow I may just get aggressive for a fill. VIX at 22, good news priced in and teh last winner stock has reported and the earings don't look that great to me minus the accounting gimmicks. DELL is the only one left that may pop things up since they warned and lowered expectations but PC makers are old news now IMO so I belive we are near the top. By the way, I called Waterhouse about the Profunds and a phone in order can be done up till 3:10 and web orders can only be done until 2:00. The buy in is cheaper than most though at only $5K which helps with the legging in approach we use. Good Luck, Lee

To: Bald Man from Mars who wrote (88)	2/8/2000 5:51:00 PM
From: donald sew	Read Replies (2) \| Respond to of 428

Bald Man, Per our trading account we also have a USPIX postion which is losing but fortunately we have it partially hedged yesterday with an UOPIX position which will minimize our losses. Frankly, I still see the downside for the NDX much greater than the upside. Im not great at setting targets but I suspect that there will be quite a bit of resistance near 4500 on the NAZ. For the trading account I will not get nervous untill 4500 is taken out. I dont know how that fits in with your USPIX position, since it depends on what type of loss you are working with. If the NAZ doesnt break 4500 to the upside, I suspect that we could see the 4200 range easily and possibly much more. I feel that the stronger negativity will occur after FEB 18, and then mid-MAR/APRIL. seeya