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To: Lucretius who wrote (10762)	11/30/1999 8:36:00 PM
From: bw	Respond to of 14427

I was talking to a Salomon Smith Barney VP friend today, who as always criticized me for my "overnight" approach to stocks...but then said that most newer investors have never seen a bear market and aren't prepared for what can happen to a portfolio in that scenario. He sees some rough seas ahead, but his "stay the course" attitude is what is keeping this bull alive. Look for the big money to stay in the market and, in my opinion, the 401K money will hold up the bottom even if the traders flee. Some of the air will just be let out and valuations will reach a lower exuberance. Still all cash here, and will play some intraday swings on some familiar stocks.

To: Lucretius who wrote (10762)	11/30/1999 10:34:00 PM
From: drsvelte	Read Replies (1) \| Respond to of 14427

"i hope to pick up NE at 7" I see NE closed at about 27, so you are suggesting a 75% decline "in the next month or so." The bears' case for a collapsing US equities markets is predicated, to a major extent, on resurging Japanese, Asian, and European economies; declining dollar (vs yen) and repatriation of foreign currencies to homelands. Yet concurrently, you see an absolute meltdown in oil services, just at the time economies globally (let alone the US) are starting to see major recoveries? Something doesn't quite fit here, could you elaborate?