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To: Lucretius who wrote (143654)	1/14/2002 5:37:53 PM
From: mishedlo	Read Replies (1) \| Respond to of 436258

A rather impressive drop today towards max pain today on BRCD VRTS BRCM QLGC AMZN QQQ (damn KLAC was a laggard). QCOM rallied towards max pain. Amazing how that works. MSFT and INTC both strong as called. Sideways market = sexy max pain. The question to answer is did the powers that be, hedge here long (so they can rally us on the INTC lie) or is INTC going to be a non-event. Regardless of how we close at expiry (max pain worked to a tee this month IMHO). Ample time for the crooks to have hedged long today if they wanted, after sucking all the premiums out of many of the calls. They can rally MSFT to about 70 and INTC to about 35 and CSCO to about 20, with MSFT and QCOM proving the best opportunity to prop up the index. M

To: Lucretius who wrote (143654)	1/14/2002 8:21:29 PM
From: mishedlo	Respond to of 436258

From Steve on the Fool >>ETrade (ET:NYSE - news - commentary - research - analysis) easily surpassed analysts' fourth-quarter earnings estimates Monday and raised its guidance for 2002 as the online broker cut advertising costs and increased mortgage loan growth.<< thestreet.com Being cranky and cynical, I notice other things tho Net income in the latest quarter included a gain of $13.9 million from debt extinguishment. Excluding the gain, earnings would have been $7.7 million, or two cents a share. ETrade reported earnings from ongoing operations of $24.7 million, or seven cents a share for the quarter, compared with $6 million, or two cents a share, a year earlier. ummm...a 13.9M extrodinary gain counts as "earnings from ongoing operations"? Results from ongoing operations exclude the amortization of goodwill and merger-related expenses, the gain or loss on investments, unrealized losses on venture fund investments, the fair value adjustments of financial derivatives related to the impact of FAS 133 and facility restructuring and other nonrecurring charges. quicken.com Wow, these guys really put the "pro" in proforma! Count an extrodinary gain as ongoing and skip everything with a minus sign. Steve....where's that accounting 201 text of mine?