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To: Chip McVickar who wrote (1472)	3/12/2001 2:03:47 PM
From: Jack of All Trades	Read Replies (1) \| Respond to of 12411

Chip, 200pt moves today are larger % than back in OCT... Are we limit down on the mini??? Jeff

To: Chip McVickar who wrote (1472)	3/12/2001 2:14:23 PM
From: robert b furman	Read Replies (1) \| Respond to of 12411

Hi Chip, Looks like Barron's article supporting value of semi equip stocks had a 1/2 day effect. Sox was actually up most of the morning(+15 -20 points). Looks like overall negative market will overpower its move - now frittering to = 3 pts. This could provide a slippery slide for the afternoon that could go out on big down momentum. Most likely lead to a terrible open and then maybe a bottom. I've got to study tonight but someone on your thread thought they remembered stocks being down 5 points and closing up 5 points.Tha t hit me with a Deja Vu. That price action as you point out is accelerating.When it reaches max furry the capitulation bottom will occur. I think it takes 1-2 more oif those "I can't believe Csco is below 20 OH NO I can't beilieve Csco is below 15 AND THEN when it swings to 11 and closes at 16 THAT'S THE SET UP!! VIX is 34 ish VXN is 63 ish QQV.X is 76 ish Fast and Furious is just beginning no Climax Yet. Sox = + 5.0(599) maybe holding 600. gulp

To: Chip McVickar who wrote (1472)	3/12/2001 4:09:34 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 12411

Beginning to look for a major drop after the 20th...? I try not to get married to any scenario and just let the bars of the moment be my guide. For long term direction I use daily and 45 minute bars - based on that, market had to save itself and move up right away or more downside was almost a given. It had a chance to move up at one point today and failed so I immediately switched gears to position for what I expected to be a big elephant trade. I went short at 1213.75 and stayed there, changing from my typical scalp mode to bigger picture mode. ottographs.com Still in. I only hold overnight if my position is immediately in the green for me and with a nice safe margin. Otherwise I just wait for another day.