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To: j g cordes who wrote (43378)	5/17/1998 5:24:00 PM
From: Patrick Slevin	Respond to of 58727

Yes, but the Primary was already established well before a year ago. A decline of 20% for a period of a month or two would not be considered a Primary. The existing Primary extends well beyond 5 years and well beyond 200 dMAs. Where exactly the trend can be drawn back to is the question. I think it can be drawn back to '83. Russell thinks '91. Either way, once the origination point is deciphered then my guess is the trendline is still well below a 20 % correction.