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To: OLDTRADER who wrote (132642)	6/14/1999 3:41:00 PM
From: stockman_scott	Read Replies (3) \| Respond to of 176387

WB Michaels: It seems like whenever there is IRRATIONAL FEAR in the market the Big Boys rush over and buy the cyclicals....Check out XON or IP <GG>...Its the owners of those Funds that have to pay for this short term mentality (and the excess trading costs). IMO, you sure wouldn't see a Janus Fund manager rush out and buy a cyclical on a day like this. Those stocks just don't meet their strict growth criteria. In fact the smartest Funds are shopping today -- picking up extra shares of blue chip tech stocks (like DELL) and selective internet stocks that are oversold. IMO we will still have a summer rally. Yet, we may have to wait for the #s to come in and the Fed. to do its thing. I feel that this correction may be close to complete. I sure am holding everything today. Since I'm not a trader and I don't have a huge margin account there are NO worries here. The market will come back and the strongest companies will be rewarded. Keep thinking LONG TERM. I enjoy your comments. Best Regards, Scott