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To: AllansAlias who wrote (11855)	8/17/2000 4:18:05 PM
From: Alias Shrugged	Respond to of 436258

>>What exactly are you referring to here Mike. >> Oh, movement in the indices which makes even less sense than usual. Last night I guess they jammed the NDX futures about 40 points above fair value. The QQQ closed at 93 but this morning it showed the close (after reflecting after-market activity, i guess) as being 93-15/16. So when the GLobex session showed the NDX futures off 30 pts or so prior to the open, we really were set to open higher. QQQ/NDX bounced around this am, then, unrelated to any news, was jammed up the whole day. I see the jam as related to unwinding either QQQ options or options on NDX or sumthin'. Activity just looked different (and more bullish) than the last 4 or 5 expirations. My take: too many bearish derivative bets which were being unwound or rolled forward. I am guessing this temporary boost dissipates by next tuesday at the latest.