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To: david earl who wrote (27117)	10/27/1997 3:24:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 58727

David as far as a system exiting positions, the kind of event that is occurring today is not one that one uses to develop a system. The result of back-testing showed that a move of about 5% in the futures was the optimal point to go flat. Clearly, on a day like this I would have been best off holding the short positions. But one can't develop a system based on extra -ordinary events--such as what is happening today.