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To: w0z who wrote (1920)	1/8/1998 8:29:00 PM
From: Phillip Crone	Respond to of 2574

I agree with the high amount of pessimism but I also would like to add that is even a higher amount of complacency, for so much pessimism there sure isn't alot of selling going on relative to us breaking out of the trading range, at least for now. I think that the individual investor has been so well trained by the media to buy and hold that they won't capitulate until just at the wrong time, which will of course be the bottom. The smart money, (who ever they are) has always been the winner in this game because they contol the moves. The currency and bond speculators who have access to information from high sources in our government and foreign governments hold all of the cards in my opinion. Us little traders are along for the ride I am afraid to say.