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To: Neil Booth who wrote (85674)	7/24/2002 11:12:55 AM
From: tejek	Read Replies (1) \| Respond to of 275872

I think (and hope!) the Naz will touch 1000. I'd look at picking up quite a lot of morsels then. The Naz has already dropped 200 in 5 days. Neil, when someone is as bearish as you are, and no one challenges his/her assumptions, it usually means we are close to the bottom. The turn may be any day now. ted EDIT. It appears the markets are liking the arrest of John Rigas, the former CEO of Adelphia.

To: Neil Booth who wrote (85674)	7/24/2002 11:24:33 AM
From: Robert Douglas	Respond to of 275872

I think (and hope!) the Naz will touch 1000. I'd look at picking up quite a lot of morsels then. The Naz has already dropped 200 in 5 days. That's very common. I knew a guy who had waaaaay out of the money puts in October of 1987. When the market crashed, he was rich. It went beyond what he originally projected and he adjusted his targets buying more puts at even lower prices. Well, to make a long story short, he never got back in the market and wasted most of his money on puts.

To: Neil Booth who wrote (85674)	7/29/2002 10:40:55 AM
From: Robert Douglas	Read Replies (1) \| Respond to of 275872

Neil, After your incredibly accurate prediction of 1200 on the Naz, I asked you if you were buying now that your target was reached. You responded. No, though some like AMD look tempting. I think there's still a lot of "skeletons" to come out of the closets, particularly in the US, and if options start being expensed then what was a 20 PE becomes 30 (to most onlookers, of course the true PE never really changed). I think (and hope!) the Naz will touch 1000. I'd look at picking up quite a lot of morsels then. The Naz has already dropped 200 in 5 days. With the Naz up 8% since then, do you wish you hadn't revised your target? There's an old joke that a broker shared with me once. He told me that in his business GTC order (Good til cancelled) are referred to as "Good til Close" orders. In other words, they get cancelled and targets adjusted as stock prices get closer.