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To: mishedlo who wrote (115974)	4/3/2005 11:22:39 PM
From: jjstingray	Read Replies (1) \| Respond to of 209892

Mish, have you seen all the puts out there. I think all those people have already shorted. 500,000 calls from $35.00 to $39.00, there are almost 800,000 puts for the same prices.

To: mishedlo who wrote (115974)	4/4/2005 12:49:49 AM
From: Shack	Respond to of 209892

Was there a divergence on the Naz double top in 2000 or not? Now that I think about it yes there was. And there was one at the Sept 2000 high as well. I am working from memory though. The divergence is one thing but that ratio has dropped rapidly in the face of what is basically a very minor decline in the SPX. Again, I am still focused on the charts but I must say I feel a little more confident about my longs with the Rydex where it is. There are still plenty of nice long set-ups IMO, but there are plenty of charts I wouldn't touch long.