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To: Andrew Vance who wrote (15135)	8/4/1998 2:29:00 PM
From: Jeffrey S. Mitchell	Read Replies (2) of 17305

I've never been through a bear market before, so I could be mistaken, but... Seems to me that when people feel a little margin pain they unload the speculative stuff, such as the biotechs and, currently, Y2K stocks. Well, this has been happening on and off but it now looks like there is no rebound in sight suggesting that people are getting a seriously worried. I also notice the bond market just had a spectacular day so could be there will a constant reallocation out of stocks between now and 2000 to "safer" investments. - Jeff

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