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To: Steve Smith who wrote (1839)	1/15/1998 10:54:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 2493

Steve, on double or triple witching days, I observed that the market often goes against the most recent trend, thus in bull markets expiration day is a down day and in bear markets it is an up day. Right now we are on the tail end of a rally, going into another leg down, so I would guess that the market tomorrow will be up and next week we will be down. Since in the last fe wyears we were in a predominant bull market your observation of down markets on expiration fits the somewhat borader suggestion I put forward above. Zeev