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To: Moominoid who wrote (134045)	7/2/2006 10:44:38 PM
From: skinowski	Respond to of 209892

About that "new highs" business... there are many sound arguments both pro and contra. Based on some established cyclicity, seasonality and chart formations, along with other factors, like the "age" of the bull market, etc. I go with the assumption that there will not be new highs this year. Besides, I am considerably invested on the long side... so, it pays to worry about a possible decline. A bunch of (mostly) index puts will by and large take care of that. And as far as shorter term trading is concerned, the entire dilemma has rather limited significance. I like your counts... maybe because we think similarly this time around... even a contrarian's limbic system enjoys a little bit of agreement.... lol.