CISCO Futures
1-303-306-1521 1-800 800 7227 Fax 1-303-306-1598
Internet http//www.cisco-futures.com
Email dljones@cisco-futures.com

                                      Items of Interest

          Every once in awhile we run across somthing we feel is of interest to most
          traders, but we have no particular place to put it.  This is the place!


          FRONT RUNNING YOUR TRADES



          SOMEONE MAY BE FRONT RUNNING YOUR TRADES
          We have long recommended against stops being placed prior to the open.
          The reason, we have felt, is that possibly someone can gain access to
          your and others resting orders and use that knowledge against you.

          A case of that sort is reported in the Wall Street Journal, Friday
          March 3, 2000.  Front page, right hand column, is titled "Nasdaq
          Market Maker, Seeing All the Orders, Becomes Canny Trader".

          The report is that Knight/Trimark, a market maker on the Nasdaq,
          identified the orders for a particular stock with aggregate buy
          orders that exceeded sell orders by 100,000 shares.  Knowing the
          market was going up, the market maker bought 50,000 shares in
          the informal pre-opening market.  The market opened sharply
          higher and the market maker sold the 50,000 shares to online
          buyers.  Their quick $15,000 profit came at the expense of
          online buyers.

          Protect yourself.  Beware of resting orders prior to the open!