gravity, I am not sure we go that low (1190), but if we do, that should hold. A more likely scenario would be that any decline is stopped in the 1210/1222 area. We'll need to see what happens tomorrow, the best bet I have is another G&C (expiry Friday, and too much exuberance may leave too many calls in the money), if we take out 1293 early on (I doubt it), then the new maginot line becomes 1236. Since I doubt we take out yesterday's high on tomorrow ramps, I think I'll stick with the 1210/22 scenario. In any event, I will be raising cash to at least 30% or maybe even a little higher on the morning gap, if it is still there tomorrow. I hope I don't try and play it too "cute" (it often happens after I pocket the quarterly 15% in AH in QLGC <g>).
Zeev
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