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To: TFF who wrote (640)	10/28/1997 7:55:00 PM
From: TFF	Read Replies (1) \| Respond to of 12617

For a perspective on crashes read the book The Great Crash of 1929 by John Kenneth Galbraith. Probably only available at libraries. In 1929: The government made many statements that the economy was in good shape and there was no reason for panic. Media portrayed the crash as a temporary correction. Investors continued to average down ...all the way to the bottom. There's a saying that goes something like this: Those who forget the past are condemned to repeat it.

To: TFF who wrote (640)	10/29/1997 2:12:00 AM
From: ag b.c. can	Respond to of 12617

Well the market performed pretty good yesterday.For Wednesday I will be going short on the S&P maybe after the first three hours of trading. Remember the phycology of people is they have been brainwashed in to believing that yesterday was a selling climax. i.e. the market is starting a new bull trend and they may move the market up for three hours and then all the traders who haven't bought into the propaganda has to jump in because their pysche tells them they are going to miss the market and then they market makers and specialists take the market back down and move it up on thursday. I don't think it was a selling climax because the the market usually moves up and closes higher than the Mondays high even though it did show a lot of the classic symptons such as a typical Monday Tuesday morning hard down opening on Tuesday with biggest volume trading and late running tape and at the end of the month I feel it will still drop some more tomorrow. We should remember that their is about $120 billion in margin and today was the day these margin calls started going out and if these investors don't pay the stocks will be sold on Friday which might be a bigger down day than Monday. Remember the Index can be skewed very easily with the selling or buying of a few large cap- italized companies. We also don't know how much of the volume is short and that Greenspan from the Federal Reserve will be speaking to his cronies tomorrow. You make your own decision and I'll be watching the market in real time before I do any day trading. Please this is just my own thoughts and from my own experience and many dollar losses $100,000 in 25 years so hard knocks does not make you right and as I get older I think I know it all. PLease you have to make your own decisions don't blame me I am just a lowly investor who is still trying to make a living off the market. I hope you have a profitable day and I closr out my positions before the end of the day.