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To: Les H who wrote (235)	6/25/1999 6:37:00 PM
From: Professor Dotcomm	Read Replies (1) \| Respond to of 470

No. I think the best indicator will be the ongoing behavior of the Nikkei 225. If it still marches on (like the Straits Times index in Singapore) we do not need to worry. If Japan can pull out of its 10 year bear market, it really won't matter if the DJIA is 10,000 or 15,000.

To: Les H who wrote (235)	6/25/1999 7:43:00 PM
From: MunnyGuy	Read Replies (1) \| Respond to of 470

Les, I like your outlook. I am a bit less complicated. I buy equities every month (dollar-cost-average), over 15 different portfolios (mutual funds), spread as to my time horizon (20 years) over the Morningstar grid (highly diversified), in a tax advantaged package (life insurance... and Roth IRA of late) for income tax free income and income tax free death benefit, while taking advantage of quarterly automatic portfolio rebalancing to systematically sell high and buy low without capital gains taxes. Then I go work and play and not even THINK about it. Averaged 17%/yr for 17 years doing that. Maybe I can get 18%, but not worth the time to me.

To: Les H who wrote (235)	6/25/1999 9:04:00 PM
From: C Kahn	Respond to of 470

I agree with you, that the market is on hold until the Federal Reserve meeting. Trading volume has been extremely thin. It is my feeling that the Fed. will raise interest rates 25 basis points, and probably another 25 basis points sometime later. A 25% rate increase is already factored into the market and should not create extreme volatility. Pre-earnings reports are starting to come out and so far there's not very much bad news. It is my feeling that corporate earnings for the next quarter will be strong, helping stop a market downdraft if the Fed. raises rates excessively.