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To: SJS who wrote (3670)	11/24/1997 4:07:00 PM
From: 18acastra	Read Replies (3) \| Respond to of 95453

Disagree. As far as I know, smart/fundamental guys staying in at these levels/buying. If the smart guys sold, it was a few weeks ago when market had peaked due to buying by mo-mo guys/chartists who wanted to buy just because stocks were going up. Its these guys now who are mostly selling, not the smart/fundamental guys. They got in w/out understanding fundamentals and paid silly valuations and took huge positions and now are getting out as selling begets more selling and the charts look bad. Look at the volume on all these charts. Its all the latecomers that drove the stocks up. These guys had no idea about the fundamentals on the way in and have no idea on the way out. Please beat me w/ a cane for even referencing the charts, but its painfully obvious what is going on here. I speak w/ the fundamental guys. They are primarily buyers at these prices as they believe in long-term cycle. My opinion.