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To: jjstingray who wrote (45122)	7/10/2002 3:28:18 PM
From: AllansAlias	Respond to of 209892

I have taken a wiggle shot at a few s-t bottoms. Who cares. About 5 weeks ago i said i was waiting for 1 of 2 trades: a bounce big enough to sow doubt in the bears that I would short or a capitulation low. I have not seen either, so I play with 5% and keep the rest of the powder dry. Sure this is some fear. But we do not know where VIX could go. We are under the Sep lows but the VIX is still well under the Sep high. That's a phat bearish divergence. Yes, I understand that Sep was a more fearful time outside the market, so one would not expect the same figure, but we are well below it on the VIX.