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To: Cynic 2005 who wrote (3255)	7/24/1998 5:59:00 PM
From: Joseph G.	Respond to of 86076

Got to correct it by inflation - use % rather than points. Then it won't be the worst loss ever.

To: Cynic 2005 who wrote (3255)	7/25/1998 10:27:00 AM
From: Joseph G.	Read Replies (2) \| Respond to of 86076

A modification of the Dow Theory, would say VLG just confirmed a bear market yesterday: quote.yahoo.com^VLIC&d=3m last close is below prior (June) lows. VLG is cap weighted and has both large, mid and small caps in it, so it's in a way more representative of a "typical portfolio" than S&P indexes. It is also more economically sensitive, so, in the past bears S&P often made a marginal new high on a brief rally while VLG has not. Waht it says, IMO, is that now statistically it is safer to short random stocks than to buy/hold long.