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To: The Perfect Hedge who wrote (2610)	9/7/1998 2:30:00 PM
From: Thean	Read Replies (1) \| Respond to of 14427

Beebs, LT already said one needs to have an iron stomach to hold shorts and puts over Tuesday and probably the rest of next week. Know thy stomachs and act accordingly. Doc - what's your strategy going forward?

To: The Perfect Hedge who wrote (2610)	9/7/1998 2:41:00 PM
From: Alias Shrugged	Read Replies (1) \| Respond to of 14427

Beebs Something doesn't quite fit here. Overseas markets up bigtime. Gold and oil up. Dollar down big. These are all consistent with each other. Lastly, stock market futures are up. This is the one that doesn't fit. I am sure all of the overseas investors will hold onto their US bond and stock investments as the dollar tanks. NOT!! <G> I am sitting here with a load of sept. puts. This may be dumb, but i will hold through the tuesday rally. If we rally to the stratosphere, this will be a put buying oppt. and I will go out to Dec or Jan. Mike

To: The Perfect Hedge who wrote (2610)	9/7/1998 3:56:00 PM
From: R. Gates	Read Replies (1) \| Respond to of 14427

Anyone spend anytime studying Elliott Wave models? If Prechter is right, the "bounce" will take us to around 8200 or so and then it will be straight DOWN past 6500 and then lower. Of course Prechter thinks the Great Bear is upon us and sides heavily with you LT. His book "At the Crest of the Tidal Wave: A Forecast for the Great Bear Market" makes some very compelling reading and if you haven't read it already I highly recommend it. Asian markets will lead the DOW up this week on anticipation of AG lowering rates. As 3rd quarter earning start coming in, and Impeachment talk heats up, and even more chaos in Russia, South America, et. al., Everyone will plainly see that there will be no quick fix for the world financial markets...the Bear will roar even louder...IMHO, of course. R. Gates

To: The Perfect Hedge who wrote (2610)	9/7/1998 4:46:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 14427

such a rise and such talk are needed in order to have a crash. It must be "unexpected." People must stand around as it drops saying "this can't be happening? Why is this happening? afterall... ????" my guess is the afterall is "the Fed is going to cut rates and you can't have a bear mkt w/ low interest rates." but they're wrong. Just like Japan was in 1990 and we were in 1929. GET READY TO RUMBLE! TUES may just go down. GLOBEX trading could have served as the pop. But in any case, it doesn't matter to me as long as it goes down. I own all L-T puts. Not greedy enough to try and time Septembers. I'll say this though, never have so many smart people I know said this week is likely for a crash and never have I seen sentiment so ripe for one: ie-- everyone is VERY nervous and suddenly hope is renewed for the briefest second (Fed rate cut) to make them off guard... then the hammer comes DOWN!!!! -Lucretius