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To: Win-Lose-Draw who wrote (152475)	2/20/2002 6:35:34 PM
From: yard_man	Read Replies (2) \| Respond to of 436258

hoping for 40 looks awfully agressive -- I agree with Les --just profit-taking today. Long QQQs here is an accident waiting to happen.

To: Win-Lose-Draw who wrote (152475)	2/21/2002 12:32:48 AM
From: mishedlo	Read Replies (1) \| Respond to of 436258

I don't buy that the market suddenly reversed 300 points in the span of 1 hour, for no reason whatsoever... This is what Mish predicted, right? A plunge followed by a nosebleed rocketship that gets people drinking the koolaid again. First time this year I'm long QQQ so I'm sure hoping he's right about the puts getting taken out all the way to 40! Actually I bought QQQ calls today and will sell the damn things at the open tomorrow. Yes, I do think we go higher in March because of all the QQQ puts that are in the money at every single strike from 32 to 39. But to induce a really powerfull rally we need to see panic first. Tick counts yesterday and today were both anemic. The whole damn thing seems so contrived but I want to see some real fear before I believe a decent rally unfolds. I am selling my calls at the open and going back to cash. Then maybe we can get a nice 100 point plunge in a couple days where some fear is shown. Perhaps 1650 or so cause today's rally at 1730-1750 sure looked like a "planned" event. M