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To: patron_anejo_por_favor who wrote (122668)	9/17/2001 10:47:58 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

well, you may remember that we have occasionally discussed the 'rogue wave' as the author of the perfect financial storm articles has termed it, and this seems indeed to be it. presumably we will see a short term low put in today though, as everything possible is thrown at the market. nevertheless i doubt that today's gyrations will be all there is to it. at the end of September, Japanese banks will have to mark to market their positions, coinciding with an Oct. 2 cycle turn, which is likely to be an ST high. at that point i'd be looking for the next major down-leg, either a re-test of today's low, or a lower low being put in. all assuming that the expected military intervention doesn't lead to an escalation as of yet unforeseen.