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To: Sanjay Varma who wrote (2161)	5/24/1999 4:00:00 PM
From: ChinuSFO	Read Replies (2) \| Respond to of 2902

Sanjay, a correction is under way in the market right now. This has been fueled by inflation concerns. I think a correction of this nature tends to correct stocks that are highly inflated; in other words those with high PE valuations. Investors know for certain that a high PE is indicative of a inflated stock price and hence those are the ones that are affected first. During such times, TA based on PE and not MA is the norm. Do you agree?