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To: Billy Bob who wrote (48748)	7/28/1998 6:51:00 PM
From: Soumen Barua	Respond to of 58727

At Republican insistence, the law shortens the length of time an investor must hold onto such assets as stocks and bonds in order to be eligible for the lowest capital gains tax rate of 20 percent. The 18 month period was cut to one year.. Here is the hyperlink to the actual article: dailynews.yahoo.com Does this (LT Cap gains) apply to money fund managers as well? I couldn't find any more info on this particular issue. Bye, Soumen

To: Billy Bob who wrote (48748)	7/28/1998 10:39:00 PM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 58727

Cossack, it's always painful to pay the bills, isn't it? FYI, the Morgan Stanley Hi-tech 35 index is still up well over 30% for 1998, if I remember correctly. Techs are by no means cheap, or even close to the 100dma yet, much less the 200dma. In genuine "corrections" you'll see the indexes going below their 100dma, touching and sometimes dropping below their 200dma. We're still not anyplace near oversold in the corrective sense. Are you aware that the S&P 500 companies have posted y/y gains of less than 2% in the first and second (2nd is estimated based on those companies which have so far reported) quarters of 1998? Not that earnings matter anymore, but I'm still an old-fashioned guy regarding some things.