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<DIV><FONT face=Arial size=2>Jeff,</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>How's the cotton market treating you
today?</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>Steve Karnish<BR>CCT<BR><A
href="http://www.stny.rr.com/abbracadabra/cybercast/">http://www.stny.rr.com/abbracadabra/cybercast/</A></FONT></DIV>
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style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
<A href="mailto:j.ledermann@xxxxxxxxx" title=j.ledermann@xxxxxxxxx>Jeff
Ledermann</A> </DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A
href="mailto:metastock@xxxxxxxxxxxxx"
title=metastock@xxxxxxxxxxxxx>metastock@xxxxxxxxxxxxx</A> </DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Friday, October 08, 1999 5:16
AM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> RE: In lieu of crash(trash)
talk</DIV>
<DIV><BR></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=566553211-08101999>Steve,</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=566553211-08101999></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=566553211-08101999>Followed you in on
Cotton yesterday morning at 51.45 (hah...). Cybercast is a little over
anxious </SPAN></FONT><FONT face=Arial size=2><SPAN
class=566553211-08101999>sometimes. Cotton's been ranging 50 to 55 since
July so stop at 50 is easy. I'm expecting a run </SPAN></FONT><FONT
face=Arial size=2><SPAN class=566553211-08101999>through 55 this time
but will be </SPAN></FONT><FONT face=Arial size=2><SPAN
class=566553211-08101999>watching Cybercast real carefully </SPAN></FONT><FONT
face=Arial size=2><SPAN class=566553211-08101999>if we get there...
:))</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=566553211-08101999></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=566553211-08101999>Also buying Dec
Wheat at open - another trade where the July low just a few points
</SPAN></FONT><FONT face=Arial size=2><SPAN class=566553211-08101999>away
makes it </SPAN></FONT><FONT face=Arial size=2><SPAN
class=566553211-08101999>a relative "safe" trade in my books.
Penetration of 257 would be very bearish. I've put my stop at
</SPAN></FONT><FONT face=Arial size=2><SPAN
class=566553211-08101999>256. 285 looks like a possible target -
see chart.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=566553211-08101999></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=566553211-08101999>Happy birthday to
your Mum <IMG border=0 height=68
src="cid:001201bf11a0$8a0b5020$c231bccc@xxxxxxx" width=55></SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=566553211-08101999></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN
class=566553211-08101999></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN
class=566553211-08101999>Jeff.</SPAN></FONT></DIV></BLOCKQUOTE></BODY></HTML>
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