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To: Bill Harmond who wrote (144684)	8/4/2002 6:19:11 PM
From: GST	Read Replies (4) \| Respond to of 164684

Clearly some people are selling. By the time the bubble was flattened out in Japan, 80% of the households sold their mutual funds -- the very same people who swore they would never sell during the early stages (the first two years) of the collapse of the Japanese stock market. I know people who are selling now. How many people sell out in coming months is pure conjecture -- but there is nothing to stop them and lots of reasons to sell.

To: Bill Harmond who wrote (144684)	8/4/2002 6:20:30 PM
From: GST	Read Replies (1) \| Respond to of 164684

By the way -- there are big mutual fund outflows -- you know this -- yes?

To: Bill Harmond who wrote (144684)	8/4/2002 7:58:17 PM
From: re3	Read Replies (1) \| Respond to of 164684

Many of the "most people aren't selling" people don't look at their statements any more...however, wouldn't you think the following could be a scenario played over and over in offices around america ? 1) a person gets in NEAR the nasdaq top and immediately has a paper gain of several percent, and gloats how well they are doing 2) the nasdaq starts to fall from 5000 and people sort of know they are down but are reassured it is all for the long term and everything "points to high tech" 2b) they note the egghead 2 cubicles over always on the computer muttering about gold stocks, but reassure themselves or their broker reassures them that gold is junk, useless and not the place to be 3) they continue to be down on paper and although they do not check the stock pages or even know how to, they cannot avoid being vaguely aware that the market is not doing well. they deal with this by: 4) file away their statements unopened 5) the continue to sense they are losing more and more $ 6) they finally swallow their pride, amble over to the egghead at the computer and mumble, "so, you are in gold ?" 7) they finally open the statements, sell what is left or part thereof and buy a south african gold stock or newmont... ps. i have a friend who bought wcom near its top, sure, he ain't selling ! you are absolutely right William, he sure isin't selling <ng> pps. don't forget the old quote "sell ? to whom"