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To: Richard D who wrote (26640)	7/28/1998 1:49:00 PM
From: marc chatman	Read Replies (2) \| Respond to of 95453

Actually, I thought we were at a bottom a couple weeks ago. The reason I hold is that I obviously can't beat the market by getting in and out and guessing at bottoms and tops. So, I choose stocks which look like they have good fundamentals, try to use a little TA to guide entry, and wait. If I could accurately pick tops and bottoms, I would. I feel the only way to make my money back is to wait this sector out, rather than to, say, jump on the YHOO bandwagon. I still fear that this sector could go lower, but I don't know, obviously. I see a lot of negatives, which I have outlined (feel free to disagree if you think that OPEC will hold things together, or you think that Asia will recover this quarter). On the other hand, we could see buying despite the negatives. Virtually all my holdings sold off in the face of record earnings, beating estimates -- so why can't the reverse happen? My suggestion to bottom-fishers has been to average in over time. I'll stick with that. When I mentioned OSX 40, it was in a context, I believe, where someone criticized a hedge fund for selling las week at the bottom. I used the reference to OSX 40 to suggest that time will tell if the hedge fund was smart or stupid. Of course, we don't know what they are doing with the proceeds of the sale.