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To: GST who wrote (70548)	7/29/1999 1:16:00 PM
From: Robert Rose	Read Replies (1) \| Respond to of 164684

<in terms of US securities, I note things like the reversal from a net inflow of $300 billion into stocks and bonds from foreigners last year to a net negative flow this years -- estimates vary but looks like it is shaping up to be a net outflow of $100 billion but it could be more. A reversal of say $400 to $500 billion in US financial markets in one year will make a difference on US stock prices. That is what you are seeing today -- and we will see it day after day -- check the yen and the euro -- they are leaving Robert. Market is going DOWN. > fyi, by your u.s.-centric talk, I was referring to the discussion you had with Jeff and kis in the wee hours about a market cap of 2 trillion vs. a u.s. gdp of 9 trillion. My point was just that the 2 trillion market cap of a global etailer needs to be evaluated within the context of the world's gdp, which according to kis, must be around 25 trillion. If not likely within 4 years, seems plausible to me, actually. As for your quote above, I agree that the Dow and Naz look poised for a significant pull back. But I am hoping the worst of the inet correction may be behind us (wishful thinking, I fear).