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To: stan_hughes who wrote (340075)	8/7/2007 7:08:49 PM
From: Real Man	Respond to of 436258

From Minyanville buzz today: "I'm absolutely slammed so lemme hop. Before I do, I'll also note that vols (VXO) haven't "come in" (for sale) with this rally, a fact not lost on trading desks and "short vol" funds across the Street. Negative gamma is a tricky witch if you're a step slow and that is likely the cause of some of these out- sized moves." minyanville.com Translation: Some of these funds are sitting on losses that won't come down and are accumulating more losses during all of the spikes, up and down.