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To: Paul van Wijk who wrote (22270)	11/20/1997 3:48:00 PM
From: McNabb Brothers	Read Replies (1) \| Respond to of 176388

Paul, A bear market is a market that goes down by 20% so says the smart people! So I guess if I think it will correct by that amount or more I better call it a bear market for I do not want to get bashed by some of the smart guys on this thread for not using the right language! Most of my longs have been bought over a number of years and my cost basis is only in the single digits on stock like WMT, HD, MRK, and a few others! If I sold WMT at $40 it would have to drop to below $30 for me to buy it back after paying the taxes on it and then I would just be right back to where I was! I do not feel that my long term position will correct that much (meaning 25% or more) and one has to figure comm. also, in fact some like DDS, WMT, and MRK have seen corrections in the past 4 or 5 years! I pay 20% long term capital gains tax on the Federal level and 7% in the state of Arkansas! Remember I'm a long term investor, but I also trade in my short term accounts! Hank