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To: Bill Harmond who wrote (19731)	10/2/1998 9:57:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

Just a snippet from thestreet.com. However, this seems to indicate what William was saying: "Remember, when someone sells puts, that is bullish. As these indices were all much lower when the sellers sold them, you have to say that smart money took profits, betting that a bottom may have been reached in tech, the financials and the overall market. (How is it bullish? The person who buys these puts has to go and buy common stock to get hedged.) What's it all mean? Rallies start with short-covering. They start with put-selling. Bottom line: Even under a 1990 scenario we should rally here. Couple hundred points. Then we have to see. "