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To: Berney who wrote (8638)	6/30/2000 8:38:16 PM
From: Gersh Avery	Respond to of 11051

I missed it .. was out all day. I'm going to have to look at what took place then. At first glance it is interesting that the futures didn't follow along .. Perhaps paint the tape to dump some futures?

To: Berney who wrote (8638)	7/1/2000 1:50:13 PM
From: Gersh Avery	Respond to of 11051

Looks like the after the bell action took place mostly in GE, INTC, JNJ, UTX and WMT. On a percentage basis it looks like GE tops the list. The value of the OEX 790 calls fell at the same time as these went up. I would seem to me that a carefull monitoring of the price of these would be warranted when the market reopens.

To: Berney who wrote (8638)	7/1/2000 4:15:26 PM
From: Gersh Avery	Respond to of 11051

The action in the QQQ into the close was also interesting.

To: Berney who wrote (8638)	7/3/2000 1:55:21 PM
From: Gersh Avery	Respond to of 11051

So do you think that we've broken out of a tight trading range? It seems that it wouldn't be good to make that assumption based on one single shortened holiday trading day ..

To: Berney who wrote (8638)	7/6/2000 3:56:41 PM
From: Gersh Avery	Respond to of 11051

RE the tape on the 30th .. Looks like a masterfull move! Target may have been INTC. Take several stocks that have been depressed lately. Use the end of the month to cover the tracks. Buy large blocks of the stocks in question while selling OEX calls. Wait one or 2 days and then sell most of the stock. This brings the OEX back down allowing you to keep all the prem. The prem covers the ballance of the stock that you still hold .. Bingo!! Free stock! Your hope is that the stock goes down a little because this will cause the OEX calls to expire worthless.