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To: Chip McVickar who wrote (13370)	1/22/1999 11:43:00 AM
From: Patrick Slevin	Respond to of 44573

<Some of the recent earnings are better then expected.> I'm of a mind that's a sucker play. The analysts set low targets, the companies beat them. Consider that IBM has moved up 70 points in the last few months. PT Barnum would have been proud; remember FIDO shilling MU while selling it at the same time? Further, these funds are stuck because they "have" to buy. Meanwhile the real money seems to be moving the market at will, whoever the "real" money is. There has to be "real" money aside from the funds, else the funds wouldn't underperform the Index so badly on average.