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To: Nemer who wrote (10258)	12/9/1997 1:13:00 PM
From: Patrick Slevin	Respond to of 17305

I have it as a 60% likelihood for a pullback into the last hour. Unfortunately, I keep picking the wrong price to sell at. This morning I first picked 10 as the point for the 475 puts and it hit 9.5 Then I lowered it to 9 and was on the offer a few times but nothing. Now I've had an offer in to sell the 465 calls at 10.25 and have been on the offer a few times but nothing. I'm going to give it until the half hour then pack it in for the day. my projection is if this does back off then the DJIA will break 120 on the downside before recovering. The action on these ITM puts and calls is not there, compared to the at or out of the money. I imagine next time I have to be more conservative in my expectations on price. In the meantime I need a tranquilizer.