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To: Chris who wrote (22810)	4/15/2000 11:12:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

What is the current stats on mutual fund outflows? Is the public investor starting to panic? The VIX certainly says to me that there is fear in the Street. :-) Lets see what happens with margin calls acted on this coming Monday. If true to form, the public will blow the margin calls off. ;-) Bob Graham

To: Chris who wrote (22810)	4/16/2000 12:29:00 AM
From: bobby beara	Read Replies (1) \| Respond to of 42787

Chris, good post on the level of oversold we got on Friday Message 13435298 Because the nasdaq got historically overbought, you would expect these kind of oversold levels on the way down and they may provide a floor for a rally, but the market is pretty risky here, if you made a lot of money on the upside of the mountain, why be in a hurry to try to find the bottom in a market like this, i think a little base here would be nice to make me feel comfortable about buying for a rally. lowrisk.com a possible fractal comparison, the nikkei retraced half the five wave rally from the 87 low and made a countertrend rally that rolled over and fell into october 90, we are at about a 50% retrace of the rally from october 98. a lot of people talking about the strong economy, and the bullish fundamentals of the tech industry, i think this is just cheerleading and rationalizing, when prices get this overblown there is a reaction downside. If the economy is so strong, why is the nyse a/d line in free fall for 2 years now? Even if we have a countertrend rally back to the 4000 area, i believe this is a momentum downside initiation and after the rally there will be a whole slew of tech insiders fat on stocks and option that don't want to see their wealth fade away in a non trending or falling market and of course your overhead resistance from all the people who bought the top. b