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To: Paul Engel who wrote (94976)	1/4/2000 2:26:00 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 186894

Paul, RE:"McPanic - Re: "I really didn't know what the efects of Y2K would be. I did think there would be more panic. " That's why we gave you your nickname"... I really don't mind the nickname as it appears to be in good fun. OTOH, What has happened to the markets yesterday and today is what I thought would happen BEFORE the end of the year. It appears the markets are doing the exact opposite of what was expected. 1. The markets ignored rising interest rates for the last 6 months. Now, just when everybody said interest rates don't matter, they use them as an excuse to trash the markets. DOW down 440 in 2 days. 2. Markets run up in the face of Y2K. So one would expect them to really roll after the coast appears to be clear and those holding back put more money to work. Wrong again. They tank with the excuse that people waited until after the first of the year to take profit and throw taxes into '00. This is a lame excuse IMHO... 3. At least the markets are looking at the fundamentals of higher rates instead of being fixated on Y2K...unfortunately this coming from lofty levels. The good news is that the quality tech stocks should hold up a lot better than most stocks... Regards, Jim

To: Paul Engel who wrote (94976)	1/4/2000 4:32:00 PM
From: Jim McMannis	Read Replies (4) \| Respond to of 186894

RE:"McPanic - Re: "I really didn't know what the efects of Y2K would be. I did think there would be more panic. " That's why we gave you your nickname" Would you consider today, DOW -359 and Nasdaq -229 a "McPanic" attack? Or is this two day performance DOW -525 a double whopper? Despite the lame excuse that people are selling after the first so they won't have to pay taxes until April 2001? Somebody should inform CNBC that the IRS requires installment payments. Next one due 3/31/200 Jim