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To: Michael Watkins who wrote (44194)	3/14/2001 12:33:25 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 44573

Unfortunately, I had my sell point and now that the market is 16 points lower I've become a bit out of the zone. Too bad, I had plenty of sleep and was right on top. Was Long into 1200, then got out and although a bit late.....playing the back of the sheet somewhat as they say in cards......I had the Short knocked. To get taken out, and with a loss, in such a manner is not good for the head. --- One way to convince yourself of the issue with the SPX if you still have reservations is to look at a one minute chart. As the stocks open the ticks should gap further and further away. Looking at a 30 minute, 15 minute, or even 5 minute (sometimes) it does not become as obvious. But essentially, the datafeeds have to provide "something" (unless it's from QCharts) and so what you see is the "last" from the day prior until you have action on the floor. 9:30 Eastern means nothing to Nasdaq though.

To: Michael Watkins who wrote (44194)	3/14/2001 1:05:16 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

By the way, I've been trying to guess which day you show the SPX gapping lower and guessed 12/20/2000 Using that day, naturally I would look at how the Large Caps Opened. According to my data, GE Opened down 1.06 CSCO down 4.12 IBM down 4.25 PG down 0.50 BA down 1.62 MSFT down 2.06 INTC down 0.50 AOL down 3.18 C down 0.62 EMC down 3.50 and so on. Taking into account that the above include several of the largest of the large on the SPX a gap down would appear inevitable. Particularly because MSFT, CSCO, and INTC are amongst that select group of huge weighting in the Cash and are already trading at 9:30 EST.