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To: stockycd who wrote (55590)	10/15/1998 6:34:00 PM
From: Trey McAtee	Read Replies (3) \| Respond to of 58727

stocky-- AMEN. i just got off the phone with my dad. i spent an hour trying to explain that to him. question...wasnt the drop from the 60s bull top to the 70s bear bottom around 50%? look, my apologies to jaime, but no one predicted this. it was an overdone rally based mostly on short covering. lets all be realistic for a second...we all know had this not come, we would be down or flat manana, and down big on monday. in fact, we may still be. IMHO, the fed has just created a long term bear. good luck to all, trey

To: stockycd who wrote (55590)	10/15/1998 6:35:00 PM
From: steve susko	Read Replies (1) \| Respond to of 58727

Objectively 6400 is unlikely, i think there is lessly than 30% dow will hit 6400 this year.

To: stockycd who wrote (55590)	10/15/1998 8:33:00 PM
From: drsvelte	Respond to of 58727

"I can't help but think that this cut had more to do with the market and less to do with the economy and when they start doing that, it's dangerous." Cut made just sixteen days after the last cut, cut made one day prior to expiry, cut made after bond market closes, cut made in an "emergency" context. This is a good omen?? Something is deeply awry. Dollar off considerably, Gold up: mrci.com Equity flows still negative: amgdata.com Not a time for long euphoria, IMHO, BWTHDIK!

To: stockycd who wrote (55590)	10/15/1998 9:40:00 PM
From: James C. Mc Gowan	Respond to of 58727

Stockycd: Re: Fed Cut and Hedge Funds History 1982- Mexico/Latin Am. devalues; Citibank, et al. take big losses; Fed lowers rates; banks made whole mid 1980"s: S and L debacle: Fed lowers rates; taxpayers pick up tab for $500B 1987: Portfolio Insurance/Market crashes: new Fed Chairman A. Greenspan cuts rates to "stabilize" markets; recession ensues 1994: Mexico devalues/Latin Am. defaults: A. Greenspan and Rubin cajole Congress to grant $50B "loan" to Mexico, later paid back "in advance" with another loan; NAFTA looking good for Clinton reelection Current Events: 1998: Hedge Funds tank: US Banks: We need help, we f****d up, again Fed cuts, surprise cuts, cuts again; re-liquification Question: which major brokers, banks have not yet announced that they have "more than sufficient collateral", to cover past and future losses/exposure to hedge fund losing positions? Rumor: One hedge holds 30000 S+P Futures long; needs to deleverage(from Princeton Economics; 10/9/98) Technical question: on expiry day tomorrow, what is break-even for market makers on OEX; what's a good intraday play on this; the break even must be below today's close at 518? Any thoughts? vocex