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To: Crimson Ghost who wrote (626)	2/28/2007 1:28:13 PM
From: LTK007	Read Replies (2) \| Respond to of 694

**** C.G. e-mail from CrossCurrents i found on going to OutLook Express just now. <<At this moment, stock futures are trading substantially higher. We actually believe there is still a possibility that yesterday was only the warning shot across the bow and one final new high awaits us. Odds? Small, but nevertheless possible. More likely, the rally attempt fails to impress on every level and the first significant correction in over four years ensues. This process could take as little as a couple of weeks. Taking into account the favorable seasonal effects typically exhibited in March & April, and the process might take as long as two months. The more reasons we see for the 200 point selloff in only 30 seconds yesterday afternoon, the sicker the prospects for investors and traders. Last night, Jim Cramer said ""My sources indicate that a big options trade went awry and some concentrated ETF selling simply cut through this market as easily as a knife through butter." Add this to Art Cashen's take of a pricing misprint or a program algorithm and we don't suppose this will leave anyone with a lot of confidence about putting more money on the line - particularly in a market as heavily leveraged by margin as this one. The action in the three large brokers, Merrill Lynch (MER), Morgan Stanley (MS) and Goldman Scahs (GS) is worse than dreadful - it is frightening.** We would welcome rallies in that sector and see the these issues as excellent short candidates. However, we are not yet presenting any new short ideas for the Trading Stance. Alan M. Newman, Editor, Crosscurrents 516.557.7171>>