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To: Broken_Clock who wrote (6992)	1/29/1999 3:39:00 PM
From: Thean	Read Replies (1) \| Respond to of 14427

For anyone who's interested, CD appears to be able to close above its $21 resistence today. Pretty good volume to support this. Pete - will pass on RIG today. Would rather miss the bottom than make the next bottom. <GG> Sold Feb 5 put on SEV for $1. This is a 20% premium for three weeks in case anyone is wondering. SEV touched $5 earlier.

To: Broken_Clock who wrote (6992)	1/29/1999 3:43:00 PM
From: The Ox	Respond to of 14427

PK, I agree with you there. Many of the market indicators that I look at are pointing toward a near term top. I suspect that we will be heading down in the near future but I've yet to subscribe to the all out crash/impending doom scenario. I think this leg of the bull run is getting very close to the end but I don't believe that calls of 4000 on the dow have any serious merit at this time. Having said the above, I wouldn't expect anyone to make decisions based on my market analysis. I guess that LT's call of "the crash is a week away" being posted over and over again for the last 4 months finally got too old for me to just ignore. Crash or correction.....I bet on the latter. Michael

To: Broken_Clock who wrote (6992)	1/29/1999 3:47:00 PM
From: SJS	Read Replies (2) \| Respond to of 14427

But the reality of it is that you are now NOT right. The market is motoring higher and you're short, so your losing money and your NOT long, so you aint' making any. That's double trouble. Look at this trend!! We may get a little scalping if it starts to decay, but the short's have been getting their clocks cleaned. Put are expiring worthless and stock blow past the strikes. Call writers are giving up their stock, but that's probably a better strategy (making the stock come to an expensive call option premium). I am concerned for the shorts here. OOps...there goes more green as the RT DOW index push very quickly over it's intraday high.... The day aint done yet, and they could blow this right down, but psychologically, this is very impressive. If we close up and stay up, this is going to be very intersting.