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To: Eric Wells who wrote (73950)	8/15/1999 10:47:00 PM
From: Bill Harmond	Read Replies (3) \| Respond to of 164684

The first thing you do when you buy a Ferrari, is make sure it's a Ferrari! Some holders like me increased their positions during the decline. "Getting back to fundamentals" is hocus-pocus. Getting back to their long-term moving average is more meaningful. Eric, you are missing something very important. The leaders became stronger BECAUSE of this correction in stock prices. They still have the money they need, and their stocks have institutional sponsorship.

To: Eric Wells who wrote (73950)	8/15/1999 11:19:00 PM
From: Victor Lazlo	Respond to of 164684

Eric- You make some good points. I think we're having a sector correction. The two "sectors " that are correcting are the float-bloated high profile stocks with little real business behind them, and the just plain highly-overvalued tech stocks. Most companies with real earnings, decent growth and reasonable balance sheets are doing fine. Many of the internets are off 40-50% or more from their highs, including those now in the market indices, like aol and amzn. Yet the Dow and the nasdaq index are still very close to all-time highs. Victor