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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Allan Harris who wrote (7206)	7/27/1999 8:38:00 AM
From: Wally Mastroly	Read Replies (2) \| Respond to of 15132

..and from her Ladyship Garzarelli (from 23 July 1999): garzarelli.com Some excerpts: "..A combination of events this week led the stock markets to take a break from hitting new highs. First, as we expected, Greenspan did not give the "all is OK" speech traders hoped to hear at the Humphrey-Hawkins testimony Thursday. Instead, he said that there is still a chance that inflation will accelerate within the foreseeable future. We believe, as long as the CIBCR leading inflation index (an index that Greenspan pays attention to) continues to rise, he will be open to further rate hikes (even with the current neutral bias). "..With all this we continue to remain bullish -- looking for an S&P 500 level of 1,600 (12,400 for the Dow) over the next six months to 12 months. Our proprietary stock market indicators are in low neutral territory, however, they have not signaled a bear market. As we mentioned last week, we believe 10 percent to 20 percent corrections are possible at any time -- but think they would create excellent buying opportunities..."