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To: T L Comiskey who wrote (663)2/7/2003 2:26:19 PM
From: Jim Willie CB  Respond to of 1210
 
my guess is these option traders banked heavily on LEAPs and other longer-term options with stocks and indexes

they expected Fed policy to have succeeded by now
the third straight down year for Dow and S&P was not expected
now a fourth is even less expected

these guys use recent history for their models
they dont factor in K-Winter and 60-yr SuperCycles
another example of K-Winter clearing a bad forest

it takes a toll on leveraged traders, big toll
so brokers, mutual fund managers, option traders are being decimated in ranks
/ jim