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To: Zeev Hed who wrote (7707)	11/12/1997 4:14:00 PM
From: Bonnie Bear	Read Replies (2) of 18056

Zeev: I closed out my spy short around noon (to add to my brokerage short) but noticed that SPY does not track the S&P index, it closed to the upside by a significant amount: To thread: If anyone is going to bet on further downside don't bother shorting SPY, it is heavily manipulated and there are much better short targets to choose from. I'm doing well with TROW as a proxy with better downside. BEN should go down further, I don't think many people will be rushing to buy Templeton funds this year. A few tech issues look oversold, I wonder if we'll see a reflex rally tomorrow. What do you think?

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