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To: donald sew who wrote (53825)	9/25/1998 9:26:00 AM
From: HairBall	Read Replies (1) \| Respond to of 58727

donald: Ok, I'm bright eyed and bushy tailed! Let's mount this baby for another ten second ride.......yeeeee haaawwwwww! <g> Regards, LG

To: donald sew who wrote (53825)	9/25/1998 9:34:00 AM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 58727

don around the Aug 31 sell off the Trin was over 6 for several days in a row 31 323 807 1 128 849 2 117 872 3 90 746 4 139 797 8 39 513 I have seen several false signals on the NAZ with the Trin and I quite following it for awhile for that market... To: +James F. Hopkins (28870 ) From: +NetSurfer Friday, Sep 25 1998 1:00AM ET Reply # of 28904 Open Letter to the Fed September 24, 1998 Messrs. Alan Greenspan and William McDonough Board of Governors Federal Reserve System Washington, DC 20551 Gentlemen: It was with great pleasure that we read in this morning's Wall Street Journal of your decision to help alleviate the unfortunate and unnecessary loss incurred by the investors and creditors of Long Term Capital Management LP. The rapid and unforeseen decline in global markets has made it hard for all of us to master this universe. Your decision to intervene yesterday will certainly help Long Term Capital raise the funds necessary to buy into this unusually large dip. Americans everywhere are thankful for having such a thoughtful and forward-looking Federal Reserve System. We are writing you to inform you of our own investment losses of late (though, most unfairly, our losses have not been on the cover of BusinessWeek). The following is a list of reasons for this loss, which, we think, is not unlike that of Long Term's: •We owned a large sum of derivatives, fully convinced of the smooth and continuous pricing of the markets. Our blind faith in Black Scholes models remains intact. Our models are perfect. It is the market's fault for not following them, not ours. •We were clueless regarding the nature of gamma risk. We are still a little fuzzy on this. •We have never lived through a bear market, nor do we think we need one now. •We have never read anything written by Nicolai Kondratieff, Sidney Homer, Benjamin Graham, Alexander Dana Noyes, Robert Rhea, Ralph Elliott, or anyone else with a sense of history. History is a waste of time. •We invested heavily in junk bonds, especially those issued by countries which cannot be located on a map by our crack research department. We never understood why people called them junk to begin with. •We think you're doing a great job, and we think you'll cut rates (wink, wink, nudge, nudge). We think this will be pure gravy for all of us, and we can't wait to buy more junk bonds on margin. Enclosed you will find a more detailed list of our losses since mid-summer. Please enclose your check (payable to TheGreaterFool.com LLC) in the self-addressed stamped envelope provided. Sincerely, TheGreaterFools P.S. Do you have the IMF's address? Enclosures Cc: Mr. David Komansky, chairman, Merrill Lynch & Co. Mr. Sanford I. Weill, chairman, Travelers Group Mr. Jon Corzine, senior partner, Goldman Sachs & Co. Mr. Douglas Warner, chairman, J. P. Morgan & Co. Mr. John Merriwether, general partner, Long Term Capital Management LP Welcome to The Greater Fool! thegreaterfool.com Links Outside the Bubble Fiend's SuperBear Page fiendbear.com The Contrarian The Prudent Bear Grant's Online Elliott Wave International Dow Theory Forecasts Yardeni's Economics Network Asia Crisis Home Page Stock Market Cycles Value Investor's Workshop Links Inside the Bubble The Motley Fool The Raging Bull StockFever.com

To: donald sew who wrote (53825)	9/25/1998 9:37:00 AM
From: Clay M	Respond to of 58727

I watch Trin on intra-day charts and don't follow it on a daily basis, but a service I take, last night said that the 5 day total of the daily closes has stayed above 6.0 each of the last 3 days giving 3 buy signals in a row, with a close Thursday of 6.53.