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To: NOW who wrote (55916)	10/9/2002 8:27:09 PM
From: bcrafty	Respond to of 209892

No; maybe you're trying to squeeze every last drop of profit from this decline, and there's nothing wrong with that. That's the ideal scenario. I think many people are concerned that the currently high VIX readings will soon trip some massive buy programs and they don't want to be caught on the wrong side of the fence at that time (we saw what happened on 7/24). I sat out almost all day today, for instance, and missed out on what would have been good short gains on GE and C that I covered just before close Tuesday. On a more short term note, many covered yesterday anticipating a bounce today from the dockworkers going back to work, and some covered today on the possibility on a ECB rate cut tomorrow. Who knows, maybe we'll get a 2-3 day bounce then the big decline; or maybe we'll keep going lower getting to your VIX target of 62 before we bounce; maybe we won't stop declining until we see VIX 100. In any event if you're heavily short right now, I wouldn't recommend leaving your computer for a very long time without stops in place.

To: NOW who wrote (55916)	10/9/2002 9:46:16 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 209892

<<but looking around i se nearly everyone covering and/or going long...>> No, the Mark-to-Market guy on Stool noted the same thing (as did I). What's a bear to do? In the past with this degree of oversell, we were guaranteed a miracle 20 percent, 3 week Dow miracle ramp, at the very least! I'm treading lightly, but still staying sold. IF bears have covered and short interest is down, might be more prudent to hold some deep out of the money crash poots AND some crash up, out of the money calls as well....