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To: MR. PANAMA (I am a PLAYER) who wrote (29752)	3/8/1998 11:53:00 PM
From: Earlie	Read Replies (1) \| Respond to of 53903

Grimmer: Good to see that the old "Reaper" is still in combat readiness. (g) Watch your back this time around Grim, as the mood out there is finally beginning to swing. A lot of fund managers have poured cash into the markets during this last two months almost in self defence and against their better judgement. Most see the mounting problems, especially in the tech sector, and are oriented to sell. There are a large number of itchy trigger fingers in twitch mode. I have fielded a record number of calls this past week, and they don't call this old bear except when they are genuinely worried. My sense is that heavy distribution is already underway. No question that the dip-buyers will slow the descent, and maybe the markets pick up some escaping Japanese Yen converted to dollars, if that beleaguered nation goes through with "dereg" on April 1 (I can't believe that they will, as the damage is already catastrophic in the small business sector), but no more. The bad news is just too ubiquitous to ignore this time around. Best, Earlie