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To: patron_anejo_por_favor who wrote (45221)	12/7/2000 6:09:41 PM
From: Les H	Read Replies (1) \| Respond to of 436258

They raised their chip equipment spending for 2001 by 1/2 billion. They'll probably warn in January about subsequent quarters. Till then, the big hope among the pruveyors of bubble and ex-bubble merchandise is for the Fed to try reinflate.

To: patron_anejo_por_favor who wrote (45221)	12/7/2000 7:46:19 PM
From: pater tenebrarum	Respond to of 436258

i was contemplating NDX calls today, but then held off...even though i suspect we may rally into expiration. i feel more comfortable playing the subsequent denouement to be honest...imo a precondition for a really worthwhile bottom is to see the CoT positions reversed, and a huge dent in the bullish consensus. not sure what it will take to achieve that, maybe the market really needs to do a Michael Henry. besides, there is still this truly stunning momentum that the bad news stream possesses at the moment. i'm not even 100% sure of BLS complicity anymore...after all, their master is a lame duck, and the new master probably hasn't yet had time to spread his tentacles across their peyote field. it may be a rare moment that allows for a dollop of truth regarding wage inflation... listen to me, i'm delusional...buy da dip! -g- actually Dec. OEX calls may be worth a gamble...