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To: Thean who wrote (2328)	8/31/1998 4:17:00 PM
From: drsvelte	Respond to of 14427

LT is the King!! What a call on DELL!

To: Thean who wrote (2328)	8/31/1998 4:53:00 PM
From: Snowshoe	Respond to of 14427

Briefing.com is calling it "Red Monday"... Close Dow -512.61 at 7539.07, Nasdaq -140.46 at 1499.22, S&P -69.72 at 957.53: About the only good thing heard today was the closing bell... By session's end, the Nasdaq had posted its largest ever one-day point drop, eclipsing the 115-point freefall suffered last October by a huge margin... While the Dow managed to avoid a similar distinction, it barely did so, and closed with its second biggest point-drop.. The old mark had been the 508-point selloff endured in the 1987 crash... The last remnants of 1998 gains were wiped out entirely and then some today... For the year, the Dow is now -4.7%, the S&P -1.3%, and the Nasdaq -4.5%... The bloodbath, in what is already being dubbed "Red Monday," was led by large-cap issues which got absolutely hammered... The numbers speak for themselves, and they don't have anything good to say... To wit: Dell (-18 3/4), Cisco (CSCO -12 13/16), Microsoft (MSFT -9 5/16), Yahoo! (-14 1/16), Merck (MRK -11 1/8), Coca-Cola (KO -7 5/8), American Express (AXP -9 1/2) and the list goes on and on... Concerns regarding the uncertain political/economic environment worldwide coupled with worries over deflation, and deteriorating earnings growth were among the catalysts to the selloff... Hardest hit today were the technology, retail, brokerage, and drug stocks, yet there was a minus sign next to just about everything... If anything positive can be taken from today's activity, it is the sense that we may be drawing close to the bottom as there was full-scale capitulation in the large-cap arena, and it occurred on very heavy volume... Thos factors notwithstanding, we still think the sidelines is the best place to be... DJTA -75.33... DJUA -5.54.