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To: Sonny McWilliams who wrote (12303)	10/27/1997 4:07:00 PM
From: vip	Read Replies (1) \| Respond to of 27012

I guess the Hongkong crisis was used as an excuse to sell into this market. I totally agree with you that here in US, the rates are down, company profits are good, no inflation. Hope we have rebound from now onwards. It is hard to take when one sees their profits evaporate in thin air in few trading days. Hope we see better days ahead soon. Regards,

To: Sonny McWilliams who wrote (12303)	10/27/1997 4:12:00 PM
From: KM	Read Replies (2) \| Respond to of 27012

Sonny: If I were short the OEX/SPX/NDX, et al right now, I'd be looking to cover in the a.m. I would not be surprised to see a snap back rally. But, will any rally be used to bail by those who got caught off guard today? I get a daily update from my index futures group for the next day's outlook (technically based). If anyone wants to see it, I'll summarize it when it get it. It did call for a break of 910 on the SPX today but I couldn't believe it. I did the unthinkable this afternoon. I finally sold a few INTCW. Broke my heart to do it.

To: Sonny McWilliams who wrote (12303)	10/27/1997 4:19:00 PM
From: dougjn	Read Replies (1) \| Respond to of 27012

Completely agree that this break is ridiculous...but these things have a life of their own, unfortunately. If its gonna go down another 10% why not get out now, and then back in....the thinking goes. Course when it snaps back it will be very fast also. Not as fast, but fast. The real issue is how much mutual fund switching out of stock orders come through. That is the potential hammmer. This won't last long, but how far it goes is hard to tell... Regards, Doug