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To: Ron McKinnon who wrote (52282)	10/17/2004 3:21:20 PM
From: AnnaInVA	Respond to of 53068

NY Times article predicts more doom. Holding on to my Nov 30 puts. Cheers !

To: Ron McKinnon who wrote (52282)	10/18/2004 10:20:00 AM
From: E.J. Neitz Jr	Respond to of 53068

Market Update from one of the Better T/A Guys: 10:07am 10/18/04 Merrill sees Dow up in Q4, then starting long-term drop ($INDU) By Tomi Kilgore NEW YORK (CBS.MW) -- Merrill Lynch senior international market analyst Walter Murphy believes the Dow industrials ($INDU) will surpass its previous 2004 high, potentially reaching a high of 11,000 to 11,500, but that could mark the end of the 2002 to 2004 bull market. He believes there is a high probability that the Dow will lose ground in 2005, marking the first time since the late 1800s that a year ending with the number "5" posts a loss. "Once the anticipated fourth-quarter rally runs its course, it is our opinion that the resulting intermediate peak will lead to a correction that will have long-term, cyclical, implications," Murphy said in a note to clients. Separately, he noted that in election years since 1932, each time the Dow recorded a loss of more than 0.5 percent during October, the incumbent lost the election. With the Dow last down 35 points at 9,898, the blue chip barometer has lost 1.8 percent since the end of September. This guy is no nonsense and quite accurate in the past....say a decade. A traders market for sure IMHO. Ed