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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (88054)	1/7/2001 10:15:24 AM
From: mishedlo	Read Replies (1) \| Respond to of 132070

Thanks for the word of caution, and I will watch closely. Somehow, I think that people are starting to get nervous about everything. They may not be selling yet, but I doubt many are buying much either so close to the top. I do think we saw the top the day after the rate cut. The next rate cut will be more telling.

To: Joan Osland Graffius who wrote (88054)	1/7/2001 8:01:48 PM
From: Earlie	Read Replies (2) \| Respond to of 132070

Joan: I can see those scars, even from this distance. It sure wasn't much fun. I suspect that tomorrow is going to be one of the most crucial of the year. With Greenspan's bailout all but eliminated (and in two days!), there has to be a bunch of worry permeating the pro desks. It wouldn't surprise me to see them come to the market with their guns blazing at the opening. If they do, I will short a bit into it. Not that I care about technical considerations, but those that do read the entrails were convulsing over the weekend. The charts are just plain ugly, especially in the techs. If the markets can't defend the current NAZ level, we may have some scenes from Vertical Limits on our screams,.... er,.... screens tomorrow. We will all need to be nimble, but I sure am happy to be looking at this mess from behind some solid short/put positions. Best, Earlie