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To: MileHigh who wrote (22726)	6/17/1999 8:36:00 AM
From: visionthing	Read Replies (1) \| Respond to of 93625

Things looking good until: 8:30 AM--reports analysts cutting earnings projections on INTC and CPQ gives another earnings warning. VT

To: MileHigh who wrote (22726)	6/17/1999 9:38:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 93625

Yes, but I still expect a good size retrenchment of the sox to the support area at 430. If that one is breached, then it probably means a real bear market. That area of 420 to 430 is a "seven toppers", and must hold on any retrenchment short of a bear. A bear is not impossible. Look at the timing, electioneering starts in earnest sometime this winter. If any "bad medicine" needs to be dolled out so that late next year we can have a roaring bull going into the October November 2000 period (the economy, stupid...), then it better start from some lower levels or else we will get a real tulip mania. I am not saying a bear is coming (I think that liquidity excess still prevent a real bear), but good retrenchments, probably. In the latter case, we are "safe" and the 420-430 should hold, IMHO. Zeev