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To: mmeggs who wrote (13303)	8/4/1998 1:00:00 PM
From: marginmike	Read Replies (2) \| Respond to of 152472

The points you make are quite valid, however in the end the markets will correct itself. Eventially those big caps will slow, maybee not go down, and the little guys will speed up and thus the flow of money will change! Today seems like a capitulation which in the long run might be OK. If we can get back to a market where earnings matter and companies that succeed go up. Today everthing goes down. Wendnesday hopefuly certain stocks are picked up in the rubble!

To: mmeggs who wrote (13303)	8/4/1998 1:04:00 PM
From: Jeff Vayda	Read Replies (1) \| Respond to of 152472

mmeggs: Yes the big caps are ruling the market. Big money needs liquidity and big floats to keep the big customers happy. The last thing those gazillion dollars coming in from all over the world want to do is brain exercises to find the good companies. Just give them what they know and leave it at that. BUT... once the cracks start to show, the rush will be just as strong out of the ones that upset. (for example, Proctor and Gamble's recent slide is an over reaction.) At some point the 'pros' will be forced to look somewhere else besides the easy picks of today. That is when good companies at good prices will really shine. Q will be one of them. Will that happen today? No. Will it happen tomorrow? Maybe. Will it happen eventually? You betcha. Jeff Vayda P.S. Yes you are 'entitled' to your rants by virtue of your paid admission to this club. Keep them thought out and fresh and you'll get read. Trash them up and you'll be passed over.

To: mmeggs who wrote (13303)	8/4/1998 3:27:00 PM
From: llwk7051@aol.com	Read Replies (1) \| Respond to of 152472

I can understand your frustration. In the long run earnings and price move together. In the short run many other factors rule. I can remember a few years ago when Merck traded in the upper 20s and everyone said drug stocks should be treated as a utility. I bought in the 30s and waited two years before it moved. Then when it got to a reasonable pe I sold. The stock proceeded to double from there. Not because of a huge increase in earnings growth but because the funds all wanted it. Go figure. Anyway the stock market is not for the faint of heart and I have to look at the longer view for me to do well. Good luck, Robert D.