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To: Eric Wells who wrote (80938)	10/17/1999 12:11:00 PM
From: H James Morris	Read Replies (2) \| Respond to of 164684

>>Please let me know where in her reasoning you see a flaw.< Eric, the only flaw I see here is that there is no reference to the elephants (institutions). You see I put no value on what us individual investors think or says, but I do try to put my time and energy into what the elephants are doing, and planning next. The planning next is the hardest of all, because unless your a prophet how can you tell?

To: Eric Wells who wrote (80938)	10/17/1999 2:13:00 PM
From: Glenn D. Rudolph	Respond to of 164684

2. Regarding tax loss selling - some investors do have realized capital gains for this year. And if such investors are sitting on unrealized losses in stocks that don't look like they will recover anytime soon, then they will sell, realize the loss and avoid the taxes. Helene's remarks seem very sensible to me. Please let me know where in her reasoning you see a flaw. Eric, Some is not enough to cause a major sell off in my opinion. The comment by Helene Miesler did state that most do not have capital gains so this is inconsistant. No reason to sell stock for a loss to offset gains if one does not have any. It really is not an issue to be. I believe the real issues will be the market's perception of rates going forward and risk tolerance. The small amount of tax loss selling should mean little in this entire picture. Glenn