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To: Knighty Tin who wrote (14730)	1/6/1999 2:12:00 PM
From: bill meehan	Read Replies (2) of 86076

>>An intelligent comment from a brokerage guy???<< Mike, that's asking for a lot, don't you think? In any case, the technicians will pour it on with the Transports taking out the 40-week MA yesterday, the breakout in the S&P and breadth looking much better today than it has for most of the past several weeks. Had published a trading target of S&P 1290 on Dec. 8, and it looks as if that may be exceeded. With PMs having badly trailed the S&P again last year their biggest fear is quickly falling behind the index again. Close to a buying panic, and sellers are reluctant to part with their precious stocks knowing what mutual fund inflows are likely to be this month. How much is a tulip worth? We shall soon see. I do expect that we'll hear from Mr. Greenspan in the not-too-distant future. Something along the lines of Mr. Guynn's (Atlanta Fed Prez) warning about the "Institutionalization of unrealistic expectations." Bill

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