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To: AllansAlias who wrote (46285)	7/18/2002 11:06:26 PM
From: ajtj99	Respond to of 209892

AA, I'm hoping the NDX can make it back to 1002 tomorrow so I can buy back my puts I parked in the MM's hands towards the end of the day. That may be tough, but they'll find a way most likely. USD making new lows tonight. There's a nice triangle on the NDX formed from the 945 and 955 bottoms and the tops a couple days ago. That might be a big break down. SPX appeared to be building a flag on the 10-minute at the end of the day. That should point to more down at the open if they don't rescue it. SPX 960 is the next support I believe. The interesting thing is that the NDX and COMP may drop harder and faster next week than the SPX. That's a nice change if you're short. I think NDX 980 will be defended if we do drop in the morning (actually, I'm kind of still looking for a flat open or slightly up).

To: AllansAlias who wrote (46285)	7/18/2002 11:08:13 PM
From: John Madarasz	Read Replies (1) \| Respond to of 209892

i agree completely, and fwiw it's not mom and pop,and retirees, selling here...it's institutions, and they are doing it at alarming rates based on the record setting pace of the dollar volume of spx options. i sincerely doubt that the bears are going to get their heads handed to them over the next few sessions.