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

To: ajtj99 who wrote (45996)	8/20/2001 7:58:27 PM
From: LTK007	Read Replies (1) \| Respond to of 56532

LOL!<<Well, I got QQQ Aug. 40 calls at $1.00 like I said I would towards the end of last week and promptly sold them for $0.10, booking a negative 0.90 earning. However, after extraordinary events and non-recurring charges (namely, I won't be able to buy Aug 2001 calls anymore) I believe I did book a small pro-forma profit in line with lowered guidance issued earlier in the day (I'll have to check this with PriceWaterhouse-Cooper).>> that's nails that pro forma right atop it's noggin.excellent,aj. ----i am having doubts about a strong bounce off a double bottom.If that re-test comes at the wrong time we could test the 1998 October low--which is 1357,as i remember. tax loss selling is pretty bureucratically timed,i am doubting funds/institutions would adapt and sell for losses early. Random thought---Lowes was all bubbly about how rebate money was coming their way,but this just highlights that when people are thinking bad times ahead they pour money into their homes,roughly akin to fortifying homes before a hurricane.Up spinners talk this into showing consumer enthusiasm,but i see it as consumers getting prudent and once they get the home matters secure they will then get stingy.This would be a logical sequence as i see it.PaxMax

To: ajtj99 who wrote (45996)	8/20/2001 8:12:40 PM
From: LTK007	Read Replies (1) \| Respond to of 56532

Last i knew Abby Cohen was predicting a 1500-1600 SPX.Where is are dear Abby these days--notice how these sell-side analyst never appear when they are way wrong,and say "i was wrong SPX isn't going to get close to 1500,sorry folks,i was just trying to prop the market with my BS.". Joe "the batman' Battaglia last year in early fall said NASDAQ would end 2000 at above 4000,said this on CNBC and had it posted on his web-site.But guess what,come December,it was no longer on his web-site,but he had doctored it to be his target for 2002.Well wonder what he is doing now to hide his blunders :) max