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To: Barry Grossman who wrote (37782)	10/27/1997 2:04:00 PM
From: Ibexx	Read Replies (1) \| Respond to of 186894

Barry, Most seasoned investors/traders would not buy when the knife is still falling; they would wait until the market start showing signs of bottoming out. I think the 100-150 points speculation is simply a "hunch" from some Wall Street oldtimers. Regards, Ibexx PS: If you look at the historical graphs, sharp falls are usually followed by sharp recoveries, unless it is a bear market.

To: Barry Grossman who wrote (37782)	10/27/1997 2:26:00 PM
From: Road Walker	Read Replies (1) \| Respond to of 186894

Barry, As of Friday, the PE of the S&P 500 was 23.22, a year ago it was 19.55. Specific stocks like CPQ and Intel are undervalued on the basis of their earnings growth, but the overall market isn't. These things are painfull and healthy, and in the end stocks should be more correctly valued. IF we get the 350 point half hour trading halt, any guesses on if we reopen up or down? I would guess up, briefly. John