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To: Robert O who wrote (2431)	11/2/2002 3:31:14 PM
From: Sam Citron	Read Replies (1) \| Respond to of 13403

OT WMT Not familiar with WMT pharmacy. With fixed small copay for my family's scrips, I tend to be price inelastic and location elastic for pharma. I also think it likely that WMT may not directly be in the pharma sales business, but may rent out the space. Don't know for sure. But pharma is certainly not their core business, just yet at any rate. I agree with your statement about cramped electronics section. They will never rival Best Buy in this category. But then again, WMT shoppers are not necessarily looking for the most pleasurable shopping experience, but just a one stop shopping place for middle-class people to buy their necessities. Yes, I think the rally began a bit earlier than some seasonal bulls expected. Here's what Bob Prechter told Barrons: "October is typically a bear-killer month. We're at the bottom of the four-year and 20-year cycles, the decennial pattern bottomed this summer and we're going into the third year of the presidential election cycle next year which is traditionally good for stocks. Finally, we're on our way to our third year in a row of down markets which is almost unheard of. Yet despite all of this I feel good about remaining a bear." online.wsj.com