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To: LLCF who wrote (302)	1/4/2000 11:50:00 AM
From: Mike McFarland	Respond to of 743

Geeze--this was instructive, I was taking some more gains on those Ariad warrants just now--sold a handful at 5/8ths, and then put a limit order in for another gaggle. First everything shifts on the level II so that the 5/8ths goes away and of course the order sits there awhile. So I figure why not run an experiment to see if this level II is all phoney. I change my order to a market order--and boy, do I ever get hosed! A little bit of an expensive mistake, not just offering up what the market can absorb, but it was instructive. I guess I've unloaded enuf of those anyway, very profitable trades. The rest I keep are paid for three times over. Put the profits into a little more of that Cortex, they've been changing hands briskly around 3/4ths.