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To: Jill who wrote (13730)	4/15/2000 12:20:00 PM
From: marginmike	Read Replies (3) of 35685

I think the VIX is at a record .41 and put/call ratio and premiums are calling a near bottom. I am not saying that there are not margined people out there. However we had a washout on 2.4 billion shares less then the 2.8 last week. This actually says that the selling has abbated if you can believe it. I think the overshoot yesterday was margin selling by those getting calls and those preparing for them. There was to much indescrimnate selling. The fact that everyone in two days has gone from calling this a mild correction to the signaling of a reccession is very reminiscent of oct 98. The fact that Limitex is repeating himself verbatim is a sure sign. GO look at posts from 16000 on QCOM buy thread and Limitex was freaking out, the same as he is now. There were people calling for reccesion, and a total economic collapse. In todays scenario people are saying the r word again and talking about Bear markets??? What fundimental basis for a bear market are there besides overinflated stock prices? NONE Overinflated stock prices have never caused a Bearmarket. The underlying fundimentals in demographics and economic growth do. In the 20's and 98 it was deflation and in the 70's it wasinflation due to the Vietnam war. where the beef??? There are signs of inflation and deflation as well as tremendous economic prosparity taking hold in the world. Is this the foundation of a bear manrket? NO WAY. Did stock prices get ridiculous and now have come home to roost? Of coarse. Is this a bad thing? No its actually great because it will cool down any inflationary pressure we might have had. We just need to stabilize here and go sideways for 6 months and I predict the last great wave of the bull market until 2006 when the boomers finnish their work. So everyone relax, as the thread bear I was saying this in Oct 98 and now I am saying it again. It aint so bad in the realworld, and its not getting worse. Its a correction, it hurts and it sucks but its almost over.

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