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To: OX who wrote (1891)	6/14/2001 11:04:39 PM
From: robert b furman	Respond to of 12411

Hi Ox, Good point, Perhaps Larry Ellisor's visit on Cnbc will fuel a pop in the A.M. and coincide nicely with Cips turnaround. Great post chip. There is no doubt that institutional buying dried up in the last hours of the day - for sure. The pent up premiums on the calls were there for the taking - perhaps explains the recent high put/call ratio as well. Bob

To: OX who wrote (1891)	6/15/2001 8:40:12 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 12411

OX, Many Thanks for that insight. Is it a given that the large institutions will always go after those lower options if the quantity is attractive...? The chart was excellent, but couldn't be linked and showed 35,000± out at $108... 20,000 to $10,000 available down to $101 and then the 72,000 at $100...! This certainly suggests the commercial sellers will dry up and the commercial shorts will settle, bring some relief. What a psyche game...<smile> The public is going to be shaken out and left hanging on the line. I fear to much of this and the public will go away. Hahn's an ewave - fib forward projecting trend change trader with a dominant slant towards bearish moods. Related comment from da_cheif: one way to measure the potential decline is where the gaps are in the spooz relative to fib retracements,..sentiment figures such as the arms and pc ratios are into benchmark oversold terrritory....aaii reported a huge drop in bulls to 31% today.... money in vast quantities is going into mm funds and bonds..unbelievable situation developing for the bulls imo......as u can see with the weekly ad line at historic highs the fear relative to price seems rather bullish..... Message 15947208