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To: D VanSwol who wrote (13767)	5/19/1998 9:01:00 AM
From: Phillip C. Lee	Read Replies (1) \| Respond to of 213182

<<How do MM's benefit from pushing prices down at option expiration? Are they really large holders of options and don't want to sell their stock? Do they push prices Up in a down market, or do they always try to hold prices down?>> VanSwol, It is believed MM's significantly hold big portion of options and they will make the maximum from options expiration, similar to the game played on ex-dividend date. In May's options, the Call 27.5 left after expiration with significant numbers, hence it was the major target to minimize those payouts. Well, today's market will be determined by: - Fed's meeting to decide whether they are to raise the interest rates; - Dell quarterly report due today. I don't think Fed will raise the rate due to: - Strong U.S. dollar, particularly to Japanese Yen; - South Asia's chaos probably result in U.S. economic slowdown; - No significant evidence to demostrate the inflation was on the rise enough to stimulate the interest rate hike; I think Dell's quarterly reports will be good enough to bring tech rally after disappointing reports from HWP. Besides, the money flown into Mutual Funds has been increased in April to present, in part, was from foreign countries due to strong U.S. currency. The money will be injected into the market after the Fed's announcement of remaining the same rates. Phil