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To: Gersh Avery who wrote (46445)	6/21/1998 10:52:00 AM
From: Leland Charon	Read Replies (1) \| Respond to of 58727

Gersh, What is this new indicator you found regarding bid/ask sizes on the SPX? Leland

To: Gersh Avery who wrote (46445)	6/21/1998 7:29:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

Perhaps the bonds moved before the Yen, the Greenback moved lower first. Depends on what you are watching, The Yen may have stayed in equilibrium to the Dollar but the dollar was fading across the board. I think you are using the YEN as a benchmark and I'm using the buck. Whatever the case may be, I have watched program trading for a few years and I think I may have to add currencies to my machines. The intertwining is just too intense for a short-term trader not to require access to all the tools. It's getting far too complex, just my opinion.