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To: Jill who wrote (7548)	5/5/2000 3:40:00 PM
From: Uncle Frank	Read Replies (1) \| Respond to of 8096

>> And specifically, tho SEBL is replacing CBS in S&P 500, requiring index funds to buy, the date of the switch hasn't been set. Apparently sebl was added to the index last night. thestreet.com uf

To: Jill who wrote (7548)	5/5/2000 3:50:00 PM
From: RocketMan	Read Replies (2) \| Respond to of 8096

As you know, I closed out SEBL yesterday (following your head fake), and in retrospect I'm glad I did. I expected more of an initial move from the S&P addition, which didn't really come. I don't know how long index funds have to reflect changes in the S&P, but when AOL was added it took quite a while for them to get squared. Initially the stock ran fast, and I assumed it was the S&P addition, but in reality much of that movement was from momentum. My guess is that as long as funds reflect the index by the end of the quarter, they are OK. As week as the market is, they will have many opportunities to buy on weakness, so I don't look for large moves in SEBL from the S&P addition, except perhaps towards the end of May or the end of the quarter in June, if some funds are still short. BWDIK