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To: Bill F. who wrote (44955)	6/3/1999 8:49:00 PM
From: Haim R. Branisteanu	Read Replies (2) of 86076

Bill, if tomorrow is flat or down, margin calls will stream in over the weekend. My read is that the 401K money and other retirement contribution which for the last 2 years or so propped the market from the 25th-28th until the 4th did not balanced out the outflow. My estimate is that there is about $500 to $600 billion of hot money in day traders hands (around 5 to 6 million people averaging 100K each)most of which know only to make money wen the stock moves up. This money is evaporating quickly IMHO. The other sign of liquidity drain is the failure of the bond to go up with the market going down and oil prices retreating some and the CRB failing to make new highs. Therefore Monday is my bet will be the real day, if not they will delay it toward CPI/PPI report and option expiration. BWDIK Haim

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