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To: bcrafty who wrote (47288)	7/24/2002 3:46:15 PM
From: marginmike	Respond to of 209892

I think when Vix rversed off its high with conviction. From the onset it was obvious to me there were no sellers left short term, market traded down weekly. IMHO

To: bcrafty who wrote (47288)	7/24/2002 3:52:22 PM
From: AllansAlias	Respond to of 209892

See last night's discussion I would answer. In summary, I would say from yesterday's discussion: 1) I thought SPX 800 was a good bet and have been waiting a long time for it. 2) I like the Dow count as it allowed for up in non-tech. As a secondary factor, I liked the big gap up in VIX and all the grim postings before and during the open.

To: bcrafty who wrote (47288)	7/24/2002 3:53:01 PM
From: marginmike	Read Replies (2) \| Respond to of 209892

In my opinion something we dont know went down last week. JPM/ i dont know Hedge funds because of Wcom? But the fact that Gold stocks rallying with the rest here is weird when Gold was down 1-2 bucks all day.

To: bcrafty who wrote (47288)	7/24/2002 10:41:06 PM
From: whydididothat	Respond to of 209892

It was the parabolic spike down over the past several days that appeared unsustainable. I and a kazillion other wired worldwide shorts have been waiting with our itchy put-sell fingers on our triggers for the exact moment. We've had two years and repeated sell-offs to practice our timing. I sold right before the lunch hour after the market opened down & reversed. I knew I was pushing it by waiting for the reversal but, hey, what's life without a little danger? Still, it's hard to believe that, yet again, we'll be able to practice our technique.