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To: cc rogers who wrote (4669)	12/19/1997 6:55:00 AM
From: Robert E. Bruss	Read Replies (2) \| Respond to of 19080

Most of the posters here seem to do what many investors do - live in the past week or two and forget everything else. Just a few days ago some were claiming "this is a screaming buy, you'll never get another chance to buy below 23" and on and on. Now that it hasn't bounced to the mid 20's immediately, the same posters are sure it's going down the tubes. Might be a good contrary indicator - many, or at least the most vocal, are giving up on it and talking about puts or going short.

To: cc rogers who wrote (4669)	12/19/1997 10:37:00 AM
From: Mohan Marette	Respond to of 19080

Is panic justified or irrational? No time to panic,I say.Read on.... "AFTER A STRING of disappointing company preannouncements and with no end in sight to this Asian contagion, the U.S. stock market is looking mighty shaky right now. We thought we better ask our favorite authorities what exactly is going on -- and what to expect in 1998. Here are their responses: Goldman Sachs's Abby Joseph Cohen, SmartMoney Interactive's No. 1-ranked oracle, is still telling investors to stay the course. The level-headed portfolio strategist is still bullish and says that the Dow can hit 8700 next year -- good for a 9% rise from current levels. "In general, 1998 will be a year of good profits and reasonably benign interest rates," she told a phalanx of Goldman clients this week. She also believes the U.S. can, for the fourth year in a row, have strong corporate earnings. In 1998, she sees S&P 500 operating earnings rising 8% and U.S. gross domestic product growth rising by 2.5% to 3%. The latter figure is notable because many economists are predicting very low growth for the U.S. economy. Cohen says she still likes banking and financial services stocks and believes the Asian contagion will not significantly affect her earnings outlook. "