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To: Thomas M. who wrote (1836)	5/7/1998 1:23:00 PM
From: yard_man	Read Replies (1) \| Respond to of 86076

It would have a huge effect. There are bunches of folk out there that use margin for weekly and monthly trading, not to mention those that just stay in it because their stocks are appreciating faster than the interest is accruing. The psychological effect would be first -- a good 5 - 10% drop -- then those which are leveraged to the hilt on their trades would give you the next 5 - 10% -- people who were not playing it so close would be next (the mechanical effect).