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To: Dale Baker who wrote (22050)	10/24/2000 9:45:03 AM
From: Norm Demers	Respond to of 118717

PRGX, looks very oversold. Fundies are really good looking. P/E just 6.7, $4 3/8 a share. Bottomed out and trending up for a few days now.

To: Dale Baker who wrote (22050)	10/24/2000 11:37:42 AM
From: Dale Baker	Respond to of 118717

Mutual Funds Are in Survival Mode By James J. Cramer Originally posted at 10:35 AM ET 10/23/00 on RealMoney.comPeople expected this market to sell off. They figured it had run too much last week and that last week was just a one-time blip. They expected the market to give back its gains from the get-go. That's wrong. Because people aren't thinking the way mutual funds do. We are in make-or-break territory for mutual funds. They tasted performance last week. They sense that the market has animal spirits here and they are not going to let the fundamentals get in the way of a buying spree. We are in a rough, rough spot where big money wants in. Big money is thinking, "We have taken our losses, we have raised cash, now let's put it to work." I know this seems like a knee-jerk reaction, but you have to understand that the mutual funds can sense that the bears can overrun quite easily here. When mutual funds are in survival mode, you have to respect what they can accomplish. You have to consider their buying power and recognize that they will buy because, what the heck, "The market is done going down." For years, I would try to intellectualize the market during this period when October's selloff ended and November's gains began. I would say it was unjustified and would unravel. I would argue that the buyers knew nothing and when they found out what I knew they would panic and sell. Turns out they either didn't care about what I knew or rationalized that what I knew was "in the stocks." My "rigorous" approach forgot the most important tenet of running money in this country: "When you are behind the averages, you gotta buy. You can't make it back by selling." There, now you have their game plan.