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To: Ed Zhao who wrote (15112)	8/28/1998 3:52:00 PM
From: Jan Crawley	Respond to of 164684

droping again, $105.

To: Ed Zhao who wrote (15112)	8/28/1998 3:53:00 PM
From: Bill Harmond	Read Replies (4) \| Respond to of 164684

I think you'll be surprised how low stocks can go now.

To: Ed Zhao who wrote (15112)	8/28/1998 4:34:00 PM
From: Rob S.	Respond to of 164684

You got your answer: despite the large volume (6.5MM shares) the NZMA held at the 105-110 support level. This level is not THAT strong and may be taken out next week. My foolish guess is that we will need to churn around 20MM-30MM shares in this area before it moves significantly lower and sticks. We have already seen 6 of that. On the broad picture: I think that the young market mavins and international bankers who are looking to the FED to ease interest rates to help out the international liquidity crisis are in for a rude awakening. Greenspan isn't a dummy. Lower interest and more liquidity is NOT what this market needs. Let the glorry stocks shake out and a doss of reality club the Russians and other countries into taking appropriate actions rather than pocketing billions. It is long overdue time for "tough love" in the financial markets.