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To: Andrew Vance who wrote (15611)	10/13/1998 8:49:00 PM
From: Larry Brew	Read Replies (1) of 17305

Andrew, I'm currently reviewing my positions for qtr4 and out. I don't know how long the 7400 - 8000 swings can last, but they have helped offset the drop from 9000+. I'm turning very bearish. I believe when we leave the range we will go to another lower one. Say 6400 - 7000, for the sake of arguement. Dropping rates may make a short term rally, but the negatives I see on the horizon are: 1) world banks in big trouble and crony power is in their system. no facts about cronys, but it's been a 3rd world way of life too long to change overnight. 2) people like me fleeing to cash, gold, or other non-equity havens. I for one have cut back on free spending. Others I know also. Not good for economic cash flow. 3) Downsizing again has reared it's ugly head. Good for earnings, but a reflection of low revenues. Revenues is something I need to follow up on while I review my positions. Enough for now. I hate lengthly posts, and here I am doing one. Good stock picking to you. I thinks it's our best shot for now. Larry

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