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To: margaret tasset who wrote (20484)	8/5/1998 10:53:00 AM
From: Sonny McWilliams	Read Replies (1) \| Respond to of 27012

Good morning Margaret. Yes, things looked a lot better early this morning. Abby Cohen is still bullish. I was down on Ralph Acampora yesterday. I believe, like many analysts do, that he was the main contributor of that drastic down turn in the market yesterday. They are still showing his comments this morning. And looking at those comments over and over again, my faith in him is gone. Like I said yesterday. He told us on Monday that the bull was still alive, especially in the blue chips and then on Tuesday he said he changed his mind because some of his fav. blue chips like Proctor & Gamble etc. were rolling over. Well, excuse me. Proctor & Gamble was up yesterday. So, like I said, just another turncoat. He could have said all that stuff on Monday and I would have respected his call but changing from a bull to a bear overnight does not cut it for me and using that Proctor & Gamble reasoning showed were he is coming from. BTW, he has said that he is bearish for the next 2 months or so. Now that the market is down, he will be a bull again when the market goes up. We can do that call ourselves. gg. Consensus yesterday was that the market could be opening down 100 to 150 points this morning and then it would turn positive by afternoon. Hm, so much for that theory. I think yesterday put some fear into investors. Most of those young ones are not used to a down turn in the markets. It will be even more volatile for a while. Fidelity said that they had some minor outflow from stocks. But Moneyline had the former manager from the Janus Funds on - he has its own funds now - and he said that he actually had some inflow yesterday. Some are already value hunting. Sonny