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To: JRI who wrote (94035)	4/14/2001 12:30:50 AM
From: mishedlo	Respond to of 436258

JRI - Put me in the selective camp. I have no clue what that does to the indicies. Stocks below max pain will trend towards it, stocks above it may stay flat or drift slighty up until about thursday. Thus in my scenario we see a lot of distribution at relatively flat prices as they do not want calls to get too heavily in the money. 100 points max on the Naz over 4 days. DOW uncertain but 10350 just enough to break resistance at 10,300 and fool everyone. Can we drop off the cliff right now, why the hell not? That would surprise the most people. The shorts have been forced out and the volume on Thursday was sufficient enought for the option pits and institutions to play whatever games they want. M M

To: JRI who wrote (94035)	4/14/2001 7:51:47 AM
From: AllansAlias	Respond to of 436258

Like assholes, everyone has one... -vbg No, I read much the same. Most everybody is expecting a pullback right here that does not retest the lows. Too much consensus. I also agree that the permabulls have reached the point where they doubt the rally. This is an important step. Note that the Americlown index supports this view as they were selling straight from Tuesday on and they sold again on Friday. AAII went more bearish this week: bulls 30%, bears 4% -- that's rally material