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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (45675)	8/9/2001 8:12:04 PM
From: ajtj99	Respond to of 56533

Yeah, Max, the more I look at it the more I think I got snookered by the powers that be that are bent on propping up the market at all costs. I'll probably close my QQQ puts tomorrow AM at open, as I'll be out most of the day again. I'll possibly go call side Monday if we don't go up much Friday, but I believe we could be up 15-20 points minimum on Friday.

To: LTK007 who wrote (45675)	8/10/2001 4:34:36 AM
From: LTK007	Respond to of 56533

PPI and Core PPI will be at 8:30.Expected,PPI minus0.3,Core PPIplus0.1. Asia mixed tonight. Futures slightly green Just read an article about how the cost-cutting by U.S. based Global companies overseas is now impacting asia and europe,and this will just circulate back to us as another negative,in terms of decreased demand from overseas. Analyst in U.K.(via Bloomberg TV) now talking about the out of court settlement with the pediatrician that sued GS for Henry Blodgett BS ,and he feels,this isjust the tip of the iceberg. That a mass of claims will be developing.We already know about the 13 clients of two MSDW brokers suing for realized losses of 20million dollars.Having read that case i feel MSDW doesn't have a leg to stand on--it was unforgivable abuse by their brokers. If it were not for the Safe Harbor law,rather than having to pay back in dollars,these fellows could be prosecuted on criminal grounds. I am reading of pressures to get the safe harbor law modified,to just plain thrown out. The losses were so huge,this fellow said,the backlash is probably just beginning. Could be. Final point,no matter how the Street talks up the market,the smart-money knows where we are going already,the Street depends on the public not thinking beyond a 24 hour time-span.And listening to the Street and not themselves. may the public wise up. My broker was talking how he thinks CSCO is a good buy now,and asked what do you think,and i said to him,do you know what the P/E for CSCO will be come the end of 2001,based on consensus etimates.He said,i have no idea.I said 111-1.He said,really?And he confided in me,very few really even think about those matters,even the MAJORITY of brokers. My broker is a good,extremely honest fellow,btw(have known him for 10 years).And also informed me he is getting clients back that he lost to online sites--as they lost much in that endeavor,they had been whipped. Now i am going back to bed:) max