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To: FR1 who wrote (3883)	6/26/1999 10:19:00 PM
From: radames	Respond to of 7772

imo intrest rate worries are over blown,,last week when i saw the markets reaction to the favorable cpi and the daq almost setting an all time high ,i viewed this as a extremely bullish sign,,the market sold off thurs and friday due too unfounded rate concerns not backed by any factual data to support this,,the economy seems to be growing robustly and valuations and intrest rates will be supported by great earnings in the techs to support these valuations,,imo i see the fed raising 25 basis points now and no forseeable change in the bias because their are too many doubts out there to support more than 25 basis points ,the global economy has not substantially proved it has come back and has a long way to go ,,,and addition we still don't know how the markets will react to y2k fears? if the fed started too substantially change rates this could be a disaster and i don't think the fed wants that responsibility with the average american invested in the stock matket and 5k on their credit cards,,if the scenario i mentioned becomes reality hopefully all that money now on the sidelines will come in and we will begin the summer rally with a boom and the nets will come back the hardest due too the fact they have been the hardest,,,we will see wed... good trading to all radames