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To: Patrick Slevin who wrote (30139)	12/3/1997 2:35:00 PM
From: Kevin	Read Replies (2) \| Respond to of 58727

>>> It's a sell program that's all...if, on the other hand, the PREM stays low (Right now it's near FV at 2.17) for several minutes then probably there are waves of programs and we are hummed. <<< Hi Patrick, how are you? Please help me understand what you are trying to say to Esteban. If a sell program kicks in, which you determine based on Fair Value data (spread b/t the cash & futures), you believe that this is a 'head fake' to shake out people in long positions and you recommend that one should actually stay in the position? Thanks for any help you are willing to share. Kevin