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To: JRI who wrote (38459)	5/8/2002 3:43:38 PM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

Hope it works out nicely for ya JRI. It's the end of day and I have taken the first action in a series of steps that are in keeping with the framework of the strategy I've been discussing. Sold 1/2 of my clown long calls. Am not adding any short positions here. I expect another leg up next week. The alternative is the same as always -- a quick plunge to below the Sep lows and I've already covered what I would do then.

To: JRI who wrote (38459)	5/8/2002 3:56:16 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

Most of the afternoon QQQ's were tracing out some sort of a mini micro ED, probably 5 of 3. IMO all in all the odds are decent for a pullback.

To: JRI who wrote (38459)	5/8/2002 3:56:39 PM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

Just a note about the BUD chart I posted earlier. Ends the day well out of that channel. However, given the high volume in this first selloff, I have no interest in getting short exposure here. I will wait to see if it can put in some up back toward the breakdown. Big volume everywhere today it seems. Some big hedge money musta gotten pretty trapped.