john magee technical analysis::delphic options research ltd    

For perspective on the aftermath of the terrorist attack we can take a look at the aftermath of Pearl Harbor as well as the markets of the 1920s-1930s. While the Pearl Harbor markets were already in a bear market just as the 9/11 market was nowhere near the distress resulted in 1941. Compare the 1929 markets. It is really too soon to predict the end of the bin Laden market. For the moment it is a day by day affair. Our advice to sell puts last Friday was prescient (and profitable). What happens next is anybody's guess.

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