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To: mishedlo who wrote (66785)	2/19/2003 2:36:17 PM
From: JRI	Read Replies (3) \| Respond to of 209892

I'm thinking back to that trader on CNBS this morning, who was so matter-of-fact, and with no intenation stated he thought 850 would hold, we would be down (all day-implied) today, and tomorrow....pretty ballsy call given we open right on the 850 line.. So far, he's really nailed the day...on a day, in which many bears (even) were looking for more up..dude was based at Chicago OEX, so immediately I thought of you (seriously g). The dude sounded like he knew exactly what would transpire. Guess day's not done...but it would be an odd chart that would see us rally and hold from here (not impossible, just odd)

To: mishedlo who wrote (66785)	2/19/2003 4:45:46 PM
From: Perspective	Respond to of 209892

I know this is a tad late now, but the decline ran over eight hours. This compares to a very brief correction Friday morning. Because of the extreme differences in duration, I can't see Friday's dip a "2" and today's action all a "4". I see pretty clearly three waves up in non-tech off Thursday's low, and if you can see a clear read in one place and an ambiguous read in another, it is usually best to assume that the ambiguous read matches the clear read elsewhere until proven otherwise. We have corrective action up off Thursday's low, and now corrective action down off the top. I haven't seen any good impulsive activity in either direction at anything above the 10min. charts in a long time. BC