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To: Sonny McWilliams who wrote (25922)	4/18/2000 10:23:00 PM
From: Brian Malloy	Read Replies (1) \| Respond to of 27012

Sonny, Sold the NDX calls in the afternoon along with some of the stock calls. Bought May puts on the NAZ near the close. Good to remember, 80% of the time during options expiry week Tue or Wed is a down day. Lets see if holds true this time. Also, NAZ is up 12% or so in two days now? Annualize that out...conclusion - I hope people don't think we will do this for a couple of weeks. We are in a trading range. Will have to see what develops but we have not broken out of the lower highs and lower lows channel yet. People need to remember the swoon last Friday. NAZ is above 3,700 now. Based on the technicals of what happened as we broke support last week, I suggested that trading positions should be lightened in the 3,600-3,700 range. Volatility works both ways and between now and Thursday a down day as profits are locked in should be expected. Bulls make money They say Bear's make money but the real ones only seem to own bonds and regardless of how low low things go they always come up with a new reason not to buy anything. Pigs get slaughtered. I hope all on the thread are enjoying this rally but I also trust that all remain vigilant, have protection in place and realize weak seasonality is coming and now that the markets are bouncing back; Uncle Greenspan and the FED will probably say something to spook everyone. FWIW, PS...That former little penny stock JAWZ continues to grow up and make all the right moves. Message 13454089