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To: Jenne who wrote (10610)	6/22/1999 10:30:00 AM
From: Jenne	Read Replies (1) \| Respond to of 19700

Folding Under Its Own Weight By James J. Cramer 6/22/99 9:53 AM ET We could be putting in a bottom here in the bond market. My surest indicator is flashing green. It is the indicator which says, "I know I am supposed buy more bonds on my strict scale down, but I just can't because it hurts too much." Oh, does this market take your appetite away! It goes down on absolutely nothing, just folds under its own weight. It colors everything, of course, so that Lehman's (LEH:NYSE) great numbers may get lost in the shuffle down to 6.25%. So we get a sloppy opening. At my morning meeting with my partner, Jeff Berkowitz, we felt beleaguered by the bonds, to the point where we decided to hold off on stuff we wanted to buy. The backdrop just got too negative again. We could ignore yesterday's decline. Can't do it twice. Too costly. Random musings: Gotta love the Lycos (LCOS:Nasdaq) promoters. The company's on the tape with any good news immediately. ... I don't know about you guys, but I am watching the Salon (SALN:Nasdaq) deal to see how this one goes. ... Franklin Covey (FC:NYSE), jammed hard by that Yachtman guy on CNBC's "Squawk" yesterday, just reported a big loss. Looks like an in-line quarter, but I wish he hadn't pushed it the day before it reported. Rough business