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To: Frank Ellis Morris who wrote (22396)	1/13/1999 11:58:00 AM
From: Sonny McWilliams	Respond to of 27012

Frank. Good thing you were at work this morning. Things look a lot better at this point. Internet stocks got hit big time along with other techs but have rebounded dramatically since then. You might as well get used to it. Volatility is here to stay. Remember your slogan. Unless you are a trader, don't look at day to day market moves unless you are in the market to buy bargains. I only trade some to offset my margin expenses and that means generally stocks with profits. I very rarely sell just because something goes down unless I see some problems on the horizon. You could have bought some Yahoo and Amzn cheap this morning. I wanted to but with my very high margin I was not in the position to do so. MM's had nothing to do with this stuff this morning. Europe was down big time but even it recovered some in the end. I guess you know by now that Brazil is the culprit. I grant you that I was a bit nervous this morning especially when I heard those PPI numbers last night. Our involvement in Latin America is not that big but naturally some of my banks are getting hit. AOL fared a lot better initially than did the rest of the internets. AOL may not go up as fast now but at least it does not go down as fast either at this point. I will not be able to keep an eye on the situation all day but hope that investors stay calm. Selling will produce lots of tax revenues. Techs look pretty good at this time. Let's hope it stays that way. Sonny