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To: William H Huebl who wrote (22093)	5/21/1999 2:22:00 PM
From: Mephisto	Respond to of 24894

William, you've got me. I never thought of the general market in terms of, "the whites of their eyes." Why do you think we will be hit by a big one? What are your signals?

To: William H Huebl who wrote (22093)	5/21/1999 5:11:00 PM
From: Mephisto	Read Replies (2) \| Respond to of 24894

I wonder if internet stocks can hold onto their lofty prices. "CHICAGO, May 21 (Reuters) - U.S. stock index futures closed mixed, with the beleaguered tech-rich Nasdaq composite once again pressuring Standard & Poor's 500s in an otherwise lackluster day of activity, traders and analysts said. ''This Nasdaq is struggling again, and so many Internet stocks are in the S&Ps that it's acting as a drag,'' said Kurt Schultz, an equity index strategist at High-Yield Analytics Inc. June S&Ps edged down to 1,329, near the weekly low of 1,325.10, on light profit-taking. Traders had mixed outlooks on the market going into next week. Some analysts said they expect June S&Ps to retest the contract high of 1,382, which also represents the upper end of the contract's five-week range, while others said the contract was headed for more declines. ''We are due for more weakness,'' Schultz said. ''I'd be a little nervous about holding longs.'' Most agreed that the recent selloff in June S&Ps has been fairly well contained. The contract has not broken below its five-week low of 1,290.50 set on April 19. But the mixed opinion on the near-term direction of S&Ps stems from diverging outlooks on the U.S. interest rate front. "