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To: bigbuk who wrote (49240)	4/5/2001 5:22:33 PM
From: Shaw	Read Replies (2) \| Respond to of 62347

I can't see any others. Looks like none comin til next week (altho this week was supposed to be the end of pre-announcement season wasnt it??). We'll see I guess. Good luck w/ the short.

To: bigbuk who wrote (49240)	4/5/2001 5:23:13 PM
From: Shack	Read Replies (1) \| Respond to of 62347

You add any puts today? I am waiting for tomorrow so I hope da bulls can push her a little more.

To: bigbuk who wrote (49240)	4/6/2001 12:57:29 AM
From: Andrew	Respond to of 62347

home.flash.net Thursday, April 5th Here's the Prudent Bear Market Summary by Lance Lewis ROFLMAO Asia was higher last night as Japan rose another percent (Hong Kong was closed.) Europe was up 2 percent as rolled around to the casino’s open where the futures were limit up on the Naz and up about 2 percent on the spoos. We gapped up big at the open and had a bit of a pullback. From there, the market hit the hard liquor and started swinging from the chandeliers, as we began a steady romp higher that actually accelerated in the last couple hours to an almost vertical slope. The close was just off the high. Volume was good although less than yesterday’s (1.3 bil on the NYSE and 2.3 bil on the Naz.) Breadth was 4 to 1 positive on the NYSE and 3 to 1 on the Naz. Big winners were in the Internets as the DOT rose 14 percent. Big losers were hard to find but the golds slipped as the HUI lost 2 percent. Guess what? DELL said last night that they might make the quarter (assuming the next 4 weeks of the quarter go OK), but they still have no idea about the rest of the year. So, what does that mean? Well, it means the world has changed overnight, silly. The bottom is in! If DELL might make their quarter, then everybody might make theirs too as well as the rest of the year, then the economy might heal itself, the NASDAQ might go back to 5000, and Elvis might be found alive somewhere in Tibet! So, let’s open some beers and buy till we can’t buy anymore! All I can say about today’s lunacy is "ROFLMAO." Nothing DELL said changes anything fundamentally. The fact that this news was the spark that lit this Roman candle today did, however, tell you that the market had gotten very short. Why is the marketplace so short? They’re short because the market knows how this is going to end, but the irony is that the market will squeeze the majority of players out before it breaks big. That’s just the way the cookie (or market) crumbles. Today’s rally reminds me a lot of the rally in tech that we had off of MU’s mumblings on their call (the one that took place without any numbers being released) a week or so ago where everybody got it into their heads that chip inventories had magically been depleted and demand had suddenly bounced back. You remember how long that lasted. There’s no sense in going through the various movers in tech today because they were all up for the same reason. That is to say there was no reason except that they were ready to rally. Some of the bigger movers on my screen were JNPR and TQNT, which both rose around 30 percent. Financials were also bought with wild abandon. The BKX rose 4 percent, and the XBD rose 12 percent (yes you read that correctly.) GE rose 6 percent. Credit cards were all up between 4 and 5 percent. Retailers were smoking to a lesser extent as the RLX could only eke out a 2 percent gain. . . . <snip> Tomorrow we get the unemployment number. The last two bits of data that showed economic strength were bought. So, we may be to the point where the Fed has lost much of its glow and rate cuts have become secondary to the economy in the market’s eyes. If that new trend continues, a weak jobs number tomorrow could cause a bit of disappointment. The number really doesn’t matter since it is backward looking, and we all know that there have been layoffs galore announced over the last few months or so. Most of these layoffs are announced 60 days in advance of them taking place though, so they may not show up in the jobs number yet. We’ll just have to see. If the bulls can hold things together tomorrow, we may be in for a multiday rally, but that doesn’t change the fact that the time bomb is ticking down. If sellers show up tomorrow for some reason, and we give back all of today’s gains (which I find highly unlikely, yet certainly possible), the market could be ready to finally break big to the downside after squeezing out many of the shorts today that would normally be ready and willing buyers and supporting prices. Probability, however, would suggest that maybe the bulls can keep this together for a few days before we roll over again and make another run at the lows, but I don’t see anything to suggest that today’s rally marked the first move off a major trading bottom (especially since we gapped up so big). Those who are still long should thank their lucky stars and think about using this rally to exit, but I wouldn’t think too long. This rally may evaporate as fast as it appeared. That’s the nature of rallies like this when there’s no fundamental reason supporting them.