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To: chic_hearne who wrote (2546)7/7/2000 1:09:53 PM
From: John Graybill  Read Replies (1) | Respond to of 436258
 
Let it rally, I say. I've seen NSM being sold at the same time INTC is being bought more than once in the past week or so. Medium-term and long-term, NSM puts are a winner -- although there is definitely something funny going on with NSM in the last hour or so. 100K and 170K looked like they were being sold at 52 1/8 but the stock jumped up to 52 1/2 and that's where it's been.

I'm seeing some of the usual bid-ask tricks (30K to sell appears at the ask, then somebody smacks him on the back of the head, he pulls it, and it's replaced by an ask 1/16th higher) that suggest there's some bull tricks to come by the end of the day. I'm guessing that it's tape-painting to make sure it's over the 200-DMA by the close, or possibly one of Robbers & Stealers famous "mid-day calls", the latest scam. I definitely am not as happy holding this put as the previous ones, but I can take a little pain at this point.

Aug SOX puts after July expiration sounds like the stuff. In the meantime, you're shorting one of the strongest in the bunch and I'm shorting the weakest one. We're not fighting each other.