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To: the-phoenix who wrote (107)	5/3/2001 4:23:45 PM
From: the-phoenix	Read Replies (1) \| Respond to of 795

Re-boxed the position as QQQ came into support between 46 - 46.4 around 3PM. Not comfortable staying short overnight, especially since no selloff in last hour today. Current XLK to QQQ ratio is .622 - still over 2 standard deviations from the mean normalized delta, but down from 3+ yesterday and the day before, which means prices have started to converge with the down day today. Having pulled a little profit out today on the XLK daytrade, I am content to continue the "arb" strategy for another day and see if it turns profitable. Phoenix