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To: jeff wheatley who wrote (3926)	12/9/1997 12:43:00 PM
From: Kumar Nathan	Respond to of 19080

Jeff: I dont have level 2 screen. By the end of the day it will fall down more. MM are holding as much as they can. They cannot maintain the market with such an avalanche. Therefore all they do is to understand and unwind how best they can do. Lots of unwinding need to be done due to 30s and higher calls too. Regards Kumar

To: jeff wheatley who wrote (3926)	12/9/1997 1:07:00 PM
From: Scott Moore	Read Replies (1) \| Respond to of 19080

I'm looking at level II using a 28.8 modem and the MM screen is lagging the time and sales windows at times (which is really abnormal), so in essence they are swatting at flies with the lights turned down. Big blocks were more balanced earlier. Now more 10k trades at the bid than at the ask. Goldman Sach at the ask quite a bit now.