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Politics : Ask Michael Burke

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To: Mama Bear who wrote (57222)	4/24/1999 2:01:00 PM
From: yard_man	Read Replies (2) of 132070

>> I believe it will take an exogenous event to cause any significant correction. It's just not going to happen unless folks run out of money, margin buying power, second and third mortgage loans, and credit card cash advances.<< The two statements are inconsistent, IMO. It will be the latter event: a slowing of the rate of funds flowing to stocks ... I think there is already some evidence of this in the rapid rotation from one group of stocks to another and back again. Bonds and stocks go up together a little more infrequently as of late, too. An external event won't be needed to dry up the flow of funds -- rather jsut to show that these flows have already slowed enough that the market is vulnerable to a significant decline ... that's when sentiment can feed on itself and make flows scarcer still. I think we've already started this process. It started 2 weeks ago, IMO.

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