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To: Alias Shrugged who wrote (27201)	10/11/2000 11:02:04 PM
From: AllansAlias	Read Replies (3) \| Respond to of 436258

>> What, if anything, tells you the current situation >> is different from last April/May? Well, first of all, right about this level in May I was up to my tits in puts. Not good. That's the biggest difference. -g Your question is a good one. Many here will probably add to this. For me, the charts are poised over BK. In Apr/May there were not. As we have matured this range-bound (for old) and bear (for tech) we have been sliding toward a meeting that you can only avoid by more up -- a meeting with all the old lines that reflect this bull since 1982 and, in some cases, earlier. BK can not every happen as long as we stay above these lines. We are now close enough that it is possible. Why aren't I up to my tits in puts this time? Fear. I will not go broke by having some fear of this market. It hurt me on the short side and I will be more careful this time. I also understand better than this takes time. No way that SPX line I wrote about today goes down on the first try. No way. First we rally imo, then we die.