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To: AllansAlias who wrote (175)	4/18/2001 11:17:38 PM
From: Perspective	Read Replies (1) \| Respond to of 209892

That's my read exactly. It was a moderately painful day financially, as I had those few core shorts that I just couldn't bring myself to ditch in a bear market. Fortunately, I had shifted away from my 75% short Naz position to about a 12% Naz short/12% S&P short mix, or they would have carried me out in a plastic bag... While it smarts a little, I view it as an incredible opportunity. I'm still learning this short thing, and I find it useful to put things in front of the mirror occasionally - view them from the perspective of a bull market, only reversed. If you consider that, in a bull market, I'd be thrilled to catch a 10% dip in the averages even if I were 80% invested, I'd be ecstatic to get 30%-type dips in my favorite longs with only a 25% long exposure. So, I should be ecstatic to get 30% pops in my favorite shorts with my exposure as low as it is. Why doesn't it feel that way? Gotta go lift some weights now to keep my physical body in shape. Hopefully I'll have some more time tomorrow to post. BC

To: AllansAlias who wrote (175)	4/18/2001 11:21:23 PM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

I should say, by "ease off", I mean not be up so much in the pre-market. I don't expect us to open down.

To: AllansAlias who wrote (175)	4/18/2001 11:22:52 PM
From: Perspective	Read Replies (1) \| Respond to of 209892

PS Yep, I think 2000 would be an excellent initial leg down for the B, followed by a leg down to the congestion in the upper 1800's. It would also balance nicely with the congestion on the left of the lows, making something resembling a head & shoulders bottom. Would be an excellent setup for a lengthy, tradeable rally. We will also need to be on alert for an aborted fifth on the leg C up. I think that, when this thing goes from here, it'll be with one incredible "whoosh". Notice that the 1931 legs became successively steeper as each low failed to hold. We've already been following that pattern of acceleration here. BC