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To: Jerry Olson who wrote (22793)	5/11/1999 9:03:00 AM
From: Chip McVickar	Respond to of 44573

OJ, I noticed yesterday that the advancing nyse were strong at 1727 while declines were 1281....yet the index only moved I think 25 points. Does this not suggest that rotation into broader nyse stocks is continuing. This activity may hold down the indexes and alter the indicators to some degree that we watch....atleast while the base grows stronger and broader. Value Line index also was up nicely. Also, I don't believe the FOMC meeting 18th will result in + .25% increase....that will mess up the rest of the worlds recovery. Especially Europe and its need for stimulation and growth. But over there they have to alter the socialist system of government payouts and support for their workers....they are not competitive and are not bringing down deficiets. So I'd quess for more sideways activity and choppie index reads. That's okay....as long as they don't send in the elephants. My Best Chip