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To: Lizzie Tudor who wrote (49513)	6/25/1999 4:05:00 PM
From: BGR	Respond to of 86076

Still predicting a strong July. :-)

To: Lizzie Tudor who wrote (49513)	6/25/1999 4:21:00 PM
From: John Pitera	Read Replies (3) \| Respond to of 86076

Michelle, I would not put it past this market to have a blow-off move Up in July and into Aug. The grudging way that we are going down indicates that if we don't fall off of the table next week (unlikely) then the 39 week cycle will be bottoming very soon. July 8th is a target date, but I believe it will bottom earlier, as this cycle has shortened a bit in the past few years. So we could see a low in the next few days. with the 9 month cycle inflicting such minimal damage overall (I know the nets have been hurt) and the markets having a small correction in price, It would indicate that there is a lot of pent up buying demand that could come to life in the next couple of weeks. GZ may be right that we are going to blast off for a big summer rally after next weeks Fed action. I know I have not made a big bet on the manner in which this summer will unfold...........If it's a mania, we are in the latter innings and hence the behavior is the type we rarely witness IRL. John