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To: yard_man who wrote (7383)	10/1/1998 4:33:00 PM
From: Defrocked	Read Replies (3) of 86076

Well, Tip, today's action took away all gains from AG's "rate reduction" rally. Now we're only 233 pts away from the Sep.1 low on the morning following Aug.31's 512 pt. decline. Let's watch once more for foreign market cues. I'm actually somewhat surprised we're only down 2.7% today. In contrast, NASDAQ down 4.8%, Brazil down 9.6%, Mexico down 5.3%, Germany down 7.6%. With the Nikkei only 1.5% away from cracking 13,000 on the downside and Hong Kong returning from a holiday, tonight will be very interesting. PPT's vs. motivated sellers perhaps??? I agree with JG...the dipsters may finally be out of money or have it all tucked safely in T-bonds to not emerge until capitulation by the bulls. As for Christmas, consumers likely to cut back just as businesses are on capital equipment expd.. More important than this Christmas may be the childrens' college fund, decimated through greed and ignorance, especially if we continue down the worst-case-scenario path. FWIW, I am beginning to see some value in a few battered tech.stocks that still have apparently hi acid test ratios. But I can afford to wait as the macro-financial environment settles down over the next 3 to 9 months.

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