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To: JRI who wrote (134452)	6/24/1999 5:08:00 PM
From: JRI	Read Replies (2) \| Respond to of 176387

CompUSA saying that they will no longer sell desktop PC's...Can a company called CompUSA do that? (Maybe they should be called HANDHELDUSA)... Dell, Gateway crushing the old boys network...

To: JRI who wrote (134452)	6/24/1999 5:16:00 PM
From: W.B. Michaels	Respond to of 176387

RE:John Rosser-My own feelings 100%.wbm

To: JRI who wrote (134452)	6/24/1999 6:41:00 PM
From: D.J.Smyth	Respond to of 176387

three rate hikes. someone's been smelling their shorts. those economists have got one hand on the panic button and the other hand on a woman's titty. if one doesn't work, the other one certainly will. I still can't believe CNBC's been saying that all day. Why don't they just write soap operas; either way they'll get paid. Orders for durable goods were down 2.4% in April and up 1.4% May. So, total durable goods orders are running about the same pace as last year with little net gain, while the overall prices of those durable goods have fallen year over year. And unemployment claims rose only 3000. That proves a strong economy? Agriculture is still very weak, Fisherman are going bankrupt, Timber prices are still low, the oil industry is still in the tanker, commodity prices aren't rising, most technology component parts are working off of 10% gross margin (barely surviving), and retail sales are up because of price slashing to remain competitve. the only things up net net are employment in the service sector and the stock market. Two years ago, for example, Red Salmon was getting $2 a pound. It's now fetching $.50lb. Fisherman are staying alive on low interest loans. Farm prices are terrible. Many farmers are planning on making money this year mainly through federal subsidies. Many industries have been in recession for two years. What we need is a stable price environment (which we have), less federal interference. I think it's all a ruse to create volatility in the market for a few key significant player groups. 17:09 DJS Stocks Fall Broadly On Rate, Earnings Worries; Dow Drops 132.03 17:09 DJS Stocks Fall Broadly On Rate, Earnings Worries; Dow Drops 132.03 NEW YORK -(Dow Jones)- Stocks fell broadly Thursday, hurt by a further rise in yields of long-term Treasurys above 6% and as a pair of key technology companies issued earnings warnings. The Dow Jones Industrial Average fell 132.03, or 1.2%, to end at 10534.83 after losing nearly 55 points Wednesday. However, the Dow finished off its lows of the day; at its worst it was down 195 points at midsession. The Chicago Board of Trade's Dow industrials September futures contract settled down 97 points at 10638. Losses on the tech-heavy Nasdaq market were even worse. The Nasdaq Composite Index dropped 44.14, or 1.7%. Among other broad-market measures, the S&P 500 fell 17.28, or 1.3%, the NYSE index declined 6.78, or 1.1%, and the Russell 2000 index of small-capitalization stocks fell 3.88, or 0.9%. On the Big Board, declining stocks outpaced advancers by more than 2 to 1 on volume of 688 million shares, while Nasdaq losers topped gainers by 4 to 3 on 912 million shares traded. Bond prices were modestly lower, pushing the benchmark 30-year Treasury's yield - which moves inversely to the price - up to 6.16% from 6.14% late Wednesday. The dollar was moderately lower against the euro and little changed against the yen. Investors have pushed long-term Treasury yields higher this week amid growing concerns that the Federal Reserve will act more aggressively than expected to tighten monetary policy. Economic data Thursday provided more evidence that the economy remains strong. Orders for durable goods bounced back a strong 1.4% in May after falling a steep 2.3% in April. Meanwhile, the number of Americans filing claims for first-time unemployment benefits rose a smaller-than-expected 3,000 to 302,000 in the latest week.

To: JRI who wrote (134452)	6/24/1999 6:57:00 PM
From: jttmab	Respond to of 176387

John, You're a voice of sanity in the wilderness. I heard the most bizarre press conference on C-Span on the way home from work. A press conference sponsored by Rep. B. Frank with speaker after speaker lined up "begging" the fed not to raise interest rates. One of the speakers citing the fear that just one rate hike portends the future of multiple rate hikes. The media, IMO, would love nothing better than a 50 basis point rise and a market crash because it would make a good story. News seems a little sparse the past few days. Best Regards, Jim

To: JRI who wrote (134452)	6/24/1999 7:52:00 PM
From: Jill	Respond to of 176387

It's all media spin, and market spin. Fear based stories grab more attention. Fear helps the market churn. The bull market was just too...bull. It needed at least a bear breather, just for the sake of ratings and commissions. It doesn't matter what the #s are or what Greenspan really said... Jill

To: JRI who wrote (134452)	6/24/1999 8:51:00 PM
From: stock bull	Respond to of 176387

John, thanks for taking the time to post your thoughts on the current rate situation. You did an outstanding job in stating the situation base on facts, at least as I understand them. Re:<< Growth is going to slow in the fall down to 3%..that will be acceptable for the Fed....they will not to continue to raise given current data...>> how many times have we heard the economy will slow down to the 2.5 to 3% growth rate? Yet, the economy remains very vibrant, running at a 4+% rate. Although the economies that you mentioned in your posting are still weak, the forecasts that I've seen indicate that they are growing. Can they maintain this progress? I really don't know. By the way, do you really think a 25 basis point increase will slow anything? I sure don't. If the Fed doesn't announce a neutral stance at the next meeting, the bond market will take it as a signal that future rates are on the horizon. As Edamo would say, its the perception that counts, not the facts. In many respects, I think the future direction of the stock market will depend on what stance the fed announces at the meeting. (No announcement meaning that they maintain the rate increase stance.) I could go on with the valuation of the market, etc. Heard today, on CNN that AJC made some statement today on the "fully valuated" market. I didn't hear, or read, her exact comments, so I just telling you what I heard on CNN Financial News this evening. I for one would love to put the inflation and bond rate issue to bed and get on with the market related issues...earnings, IPO's, etc. Stock Bull