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To: James Strauss who wrote (51325)	9/1/1998 12:44:00 PM
From: Pierre J. LeBel	Read Replies (1) \| Respond to of 58727

Jim, we have had a 372 points retracement, including yesterday and this morning early drop (from 7401 to 7773). That does it for your 50% retracement. We are going down from here. Pierre

To: James Strauss who wrote (51325)	9/1/1998 4:54:00 PM
From: Wally Mastroly	Read Replies (1) \| Respond to of 58727

Jim, What do you think about that Dow close (+288) on very high volume (NYSE & Nasdaq)? Dead cat bounce - or the buyers are back? I think they may be back - at least until the next crisis. Also agree with your opinion on the Fed. I think its time for Allan Greenspan to speak up about the strength of the U.S. market - a small hint about less concern about inflation wouldn't hurt either. Allan doesn't seem to be shy when the market runs up. A sensible word or two from him might help calm down this wild market. Wally