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To: donald sew who wrote (32237)	1/4/1998 10:51:00 AM
From: j g cordes	Read Replies (2) \| Respond to of 58727

Don, that's my impression of funding.. that's its not MANDATORY it go immediately into the market in January. On the technicals, the OEX is getting very close to the 466 area we've discussed before.. just a line in the sand though. From a contrarian standpoint, the ease with which the Santa rally climbed is in part due to the psychological safety provided by the January effect continueing to support the late December buying. Should that falter, then we've got a lot of air underneath again. The actual cash flows into this market are being fiercly debated, my guess is that its somewhere in between these two reporting groups.. which in sum is poor: see article...> exchange2000.com cheers, Jim