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To: Investor2 who wrote (9614)	11/13/1997 2:38:00 PM
From: Patrick Slevin	Respond to of 17305

I don't know that any percentage makes or does not make a bear market. Also, a bear market may be brief, maybe 6 months, maybe years. This one I think is good for around 6 months. Whether or not it continues with a sharp decline or just gradually sells lower is anyone's guess. DELL-bert hit my first guess (70) this morning but I missed it while watching the other action. I missed INTC a couple weeks ago the same way....they would only have been short-term positions anyway, as I disagree with you. And Kevin for that matter. I think it is a bear market now and waiting for a 'full-blown' version is not something I want to take a chance on. To each his/her own. I was lucky and hit the high again this morning...sold out when the negative ticks got excessive and the SPX looked like it was going to hit support at 903. Probably a bit early but I still have puts in reserve. Anyway, I2...Methinks the answer to the chicken and egg question concerning this bear/bull market will be upon us within a day or so.. or perhaps around November 24th. Also, in case anyone follows such things, the SP7Z returns to a 9:30 EST open on Monday and the OEX splits 2 for 1 after expiration.

To: Investor2 who wrote (9614)	11/13/1997 4:35:00 PM
From: Trader X	Read Replies (1) \| Respond to of 17305

Regarding bear markets -- Let's take a look at the Big Picture. the Big Picture: a ten year monthly chart of the Naz - chart1.bigcharts.com:80/report?state=0&trans=0&symb=nasdaq&r=chart&time=13&freq=3&compidx=aaaaa%3A0&ma=3&maval=10&uf=0&lf=4&type=4&style=8&size=3&sid=3291&sec=x&xyz=403063812&s=2261 Worth noting is that any decline above the 1400 level is just a CORRECTION. Define Correction: a pullback of approx. 50% of the last major upthrust. In the case of the Naz, this would include the summer rally from about 1250 to 1700...a full 450 points. Bottom line, the Naz can correct 50% of 450 from 1700, to about 1475, and still be in the uptrend that started in 1995. Today's close of 1557 is 75 points above that level. I'd mark this as a bear market if the Naz CLOSES below 1400. cLastChanceForGas