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To: divvie who wrote (64079)	9/8/1998 9:17:00 AM
From: Eddie Kim	Respond to of 176387

Divvie, Thanks for the serious reply. As for the "bear market" issue...I can't help you. Personally, I don't see the common charateristics of a Bear market as I wrote to Lee. Furthermore, this 20% came way too fast. Yet the market did correct 20% so we are in a Bear Market...which is the textbook definition..or at least that's what I've been told. Why not 25% or 30%? Don't ask me...I didn't make it. Maybe, the 20% is a hint as to what will come. Remember this market has been essentially going up for 15 years. Historically, a Bear Market is overdue. Current Valuations are still at record levels even with this correction. If the market continues to correct to 6500 the P/E of the S&P would be around 20. That's still historically very high.