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To: Byram who wrote (42611)	5/7/1998 9:39:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 58727

Byram, The market just is not healthy. I mean to say, I will be amongst the first people to trade it long in a rally but the freakin' thing is an accident waiting to happen. I think it is an error to presume that the big cash coming in will save it, the problem is the big cash.....'cuz if the market sails down hard the "buy the dip" and "I'm in it for the long haul" crowds will take a powder. One must be cautious in this environment. It is just not wise to be otherwise. This market will not go flat on bad news. Each day this week the early rally has been sold into. I honestly believe it's a mistake to be long into this, on a long term position. Mutual Funds appear to be fully invested. Put/Call ratios today were roughly even.....all things considered, any outflow in the funds has to be reconciled with selling. To me, tomorrow is a lose-lose situation. If the numbers are weak the market rallies based on a weak economic forecast. If the numbers are strong the market backs off on worries of a Fed intervention. The market is nailed either way, it's just a question of time. Anyway, I have to bolt, there must be a basketball game on, somewhere.