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To: Jorj X Mckie who wrote (78997)	10/20/2002 6:17:55 PM
From: SusieQ1065	Read Replies (1) \| Respond to of 208838

i think they open at 6:30, Jorjie... I think that I am the only one on SI who thinks that the rally ended on Friday hey, i thought the rally was over on Friday morning!...i had 10 points in an SPX short...and was feeling fine and then ended up with nothing by the end of the day! i was telling someone in a PM that a lot of us are tying our short hopes up in the Retrace theory...(i am, at least) and i was/am beginning to question this...as i feel the Spector of October 01 hanging over my head.. and i was also thinking that the Retrace Theory could end right now, and still be considered fairly successful... so my current position is that i still believe in the Retrace theory, but i have to keep an open mind...and allow some margin for error here.. if we move a lot higher from here....i will probably miss that move....but i refuse to be stuck short in it...

To: Jorj X Mckie who wrote (78997)	10/20/2002 7:02:37 PM
From: Techplayer	Respond to of 208838

Jorj, I have felt like you this weekend. I thought we would drop into the end of the day on Friday. TP

To: Jorj X Mckie who wrote (78997)	10/20/2002 7:39:20 PM
From: stevenallen	Read Replies (1) \| Respond to of 208838

<I think that I am the only one on SI who thinks that the rally ended on Friday.> Not quite Jorj - I sold a bunch of longs Friday and added 3 more shorts - Would it really be a shock for there to be a nice size dip after OpEx and the recent run-up? If that happens who really knows if the countertrend rally can re-emerge? Is the PPT (or whomever) gonna keep things humming until the elections or will this rally fizzle and die under its own weight as folks who have been stuck long for quite a while take the opportunity to get out while they still can? I have no idea which way it's going to shake out short term but I'll just go with the flow - hopefully I can cover some shorts real soon for the quick coin but if not, I'll just add some more hedge longs and ride it out. Whether it takes weeks, or even months, for the rally to fade, one thing I am betting on strongly is that the bottom is not really in yet - not with the world economic and political situation, not with the lack of business spending, not with the obfuscated earnings forecasts, not with the increasing layoffs and debt load of the American consumer. Talking heads saying "The train has left the station" is not the same as an actual recovery - I'll play it as a tradeable bounce at best and keep my core short positions on the overvalued piggies.