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Strategies & Market Trends : The Options Box -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (10518)	4/20/2001 9:04:39 AM
From: hobo	Read Replies (1) \| Respond to of 10876

the quality and severity of the pullback can clue us in to how powerful the next upleg is gonna be. Good morning John, In principle I agree, I believe the next few days will be key in terms of a possible pull back/profit taking move. If this move does not break the confidence of the market then yes, we may continue and probably strong. The main problem I see, (based on my own reaction yesterday), that if confidence breaks, then the reverse may be in place and the market could sell off. Yesterday, I simply could NOT bring me to jump in as I could not determine with confidence I should. Under these circumstances, I decided to become an spectator. However I can not deny the strength of this reaction to the upside... I just heard that Brocade has warned, (after being upgraded), Futures are now down and this will be a great test to see how strong this beast really is... Climbing a wall of worry comes to mind... soon we shall see. The learning process never ceases in this circus... Thanks for your contribution John, always appreciated. One last comment, I saw the Treasury secretary on CNBC earlier and gave me the impression of a no nonsense guy, very hands on and very pro-business. I understand he was the CEO of ALCOA prior to taking his position as T S ? Obviously a positive for business imo.