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To: jeffbas who wrote (9459)	6/11/1999 11:52:00 PM
From: Sam	Respond to of 21142

I don't expect the general market to be damaged too much because by late July the earnings reports will look great. Between now and then the "powers-that-be" are going to do their damnedest to bring it down so they can get back in lower. They have the media and politicians talking about Fed rate increases, etc.and over reacting to incidental changes. Lower summer volume makes the job easier. Internets are getting hurt now but will look even worse in late July against 15-20% earnings gains on low risk stocks. That will give them a one-two punch and fortunes will be made again as they are brought back. A lot of money will be "exported" to invest in recovering countries like Japan. I think we're looking at the next six weeks as risky and generally down. Both index and demand have been cut by moving averages this week indicating we're about half way through this "correction". That would give a little over a 10% down move. I plan to be out of the market in July. They have got to bring the market down now because in August, with great earnings, there's no way to turn the "herd".