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To: upanddown who wrote (47696)	7/9/1999 4:14:00 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

When considering how much OSX might decline during the upcoming earnings season, we must remember that Wall Street earnings expectations are already very low. Only if major OS firms fall short of these quite modest estimates will there be a major problem on this score. Another possible problem could be a sharp break in crude prices. Seems most unlikely with global economies recovering and OPEC hanging tough. A third potential problem (and by far the most likely in my view) is a steep drop in the overall market.. I see this being triggered by a combination of rising bond yields and Y2K concerns. The Fed does NOT control bond yields. In fact some astute observers argue that the longer Greenspan postpones an aggressive tightening, the higher bond yields will go. I see very little chance of OSX revisiting the 60s as long as the market remains strong. But if the Dow moves towards 9000 this fall as I expect, the OSX will not be immune.