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To: 4rthofjuly007 who wrote (35650)	4/3/2002 5:20:07 PM
From: The Freep	Respond to of 209892

It's the 4-4:15 divergence, 4rth. The futures moved up after the market closed -- 12 or 13, maybe? -- vs where they were when the market closed. The futures stop trading around 4:15ish. They're down one in the "new session" that started at 4:45 (or whenever it starts) but still would give us a gap up if the NDX conformed to the numbers. the freep

To: 4rthofjuly007 who wrote (35650)	4/3/2002 5:30:15 PM
From: UnBelievable	Respond to of 209892

NDX Fair Value It all depends who you ask <gg> According to HL Camp it was 6.62 this morning (http://www.programtrading.com/buysell.htm) According to Michael Schwartz, chief options strategist at CIBC world markets, who is usually the source for the Dow Jones News Service daily article presenting fair value it was 5.60 this morning. Right now I have the NDX PREM at 21.29 (ND M2 1415.50 NDX close 1394.21) which is quite a bit above fair value regardless how you calculate it <gg>. E_Signal is showing a 1.50 gain in the futures from the 4:15 close. There was a very strong futures led rally in everything that gave us the bounce.