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To: Stephen O who wrote (3175)	1/21/1999 8:26:00 PM
From: Eric Maggard	Respond to of 81050

It took me a little while to find it too, but it is in the section week to week. From Jan 4 to Jan 11, the M2 shows a decrease, but these are only preliminary numbers. Also, Hutch, from you other posts you state that a day does not make a trend. I would also say that a week also does not make a trend. Here is the data: Not seasonally adjusted ---------------------------------------------------------------------------------------------------------------------------------------------------- 1998-Oct. 19 1069.1 1071.3 1075.7 4266.1 4299.4 4329.7 5748.0 5802.3 5850.0 26 1070.1 1073.9 1071.6 4275.8 4316.4 4310.7 5764.5 5831.2 5845.0 Nov. 2 1070.6 1076.1 1093.2 4284.7 4324.1 4337.3 5780.0 5851.1 5875.6 9 1071.8 1080.8 1082.6 4294.4 4339.3 4379.5 5794.9 5871.7 5916.1 16 1073.7 1084.2 1089.4 4304.9 4353.3 4385.8 5811.6 5893.2 5936.0 23 1075.8 1087.7 1085.6 4315.1 4366.3 4362.7 5828.6 5911.9 5920.0 30 1078.9 1092.3 1111.4 4325.7 4375.9 4375.6 5846.6 5931.3 5953.0 Dec. 7 1080.9 1095.4 1095.0 4335.1 4386.9 4423.6 5862.9 5952.8 6002.1 14 1082.7 1096.6 1094.3 4344.4 4397.0 4425.9 5879.5 5972.1 6013.1 21 1086.5 1104.4 1116.7 4356.2 4414.2 4431.7 5897.5 5991.4 5997.2 28 1091.8 1108.8 1129.2 4370.5 4427.5 4428.7 5917.3 6000.1 5987.8 1999-Jan. 4p 1097.2 1124.0 1155.6 4382.8 4438.3 4466.9 5933.2 6000.1 6002.4 11p 1099.5 1123.7 1093.3 4393.5 4446.3 4457.9 5947.5 6001.7 6019.4 I think you could say the trend has changed, when the M2 and M3 data go down for a month or two. But, if it does that, then I think the equity markets would go down hard, since it appears that they are just being fueled with more money. BWDIK, Eric