This sure is a bullish bear rally. How much higher I do not care to guess. However I think I am a little more pessimistic than you Zeev...I think the 6-8 months after Jan 03 will be a disaster. After the past few week’s performance, I believe 1222.22 is an "optimistic" bottom. We sure do an effective job at trashing our markets! All in all though…good swings to make $ in.