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To: AllansAlias who wrote (6463)	7/7/2001 9:38:54 AM
From: JRI	Respond to of 209892

One reason: Joey Bag-o-donuts told me this is just a correction eom

To: AllansAlias who wrote (6463)	7/7/2001 9:56:58 AM
From: JustTradeEm	Respond to of 209892

Hey now, wait just a minute ... CNBC keeps telling me this is a summer rally ... LOL .... they need to read AA each day .... Thanks for the great work .... JB

To: AllansAlias who wrote (6463)	7/7/2001 12:55:27 PM
From: Shack	Read Replies (1) \| Respond to of 209892

In the smaller time frames, the count off the Jul 2 high for this '1' down isn't completely clear to me. It appears that we are either about to complete the entire count with one last flush, or we are in a 4 of an extended 3 which began late on the 2nd. In the larger time frames (say 130-min), the latter is my preferred. Either way, there is more down likely early Monday. COMP 1974 looks like a logical place for it to stop (which means it probably won't) I am not taking any new positions until the '2' bounce. Heinz has a short-term cycle turn for the 12th which I think may be the top of that '2'. There was an intriguing spike in Rydex bear assets yesterday including money market assets which makes me think many may get squeezed and the '2' will be sharp. Hope so, I would get nice entry.

To: AllansAlias who wrote (6463)	7/7/2001 2:02:43 PM
From: The Freep	Read Replies (1) \| Respond to of 209892

Allan, I can't give a logical reason to be long going into the summer, but I can recite some propaganda that may, or may not, have some merit. Income tax refunds coming. The first rate cuts are now 6 months behind us and thus supposed to "kick in sooooon." Mind you, with Europe and Asia weakening, I don't think this means much over time. HOWEVER, if we start seeing economic reports here in the US that indicate "turnaround" it might very well be enough to create a rally of some merit. After earnings in July, you've got August and early September where there won't be warnings on a daily basis. If you look at the Naz chart from 2000, we managed a decent rally there. Again, valuations are historically high and earnings are falling. It's not a great atmosphere for longs, I don't think. But the above is the best argument one can make for a rally. the no-longer-travelling freep PS. I also made six figures on lots of my puts, if you count the two figures after the decimal point.