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To: Jeff Dryer who wrote (27368)	7/29/1999 6:18:00 PM
From: RocketMan	Read Replies (1) \| Respond to of 41369

I don't think many traders remember the days of real inflation, unlike the fears the press is spreading about non-inflation. Try double digit inflation, mortgage rates so high that it was cheaper to put it on a credit card, etc. Greenspan remembers, and that probably is what he is afraid of. But we have a very long way to get anywhere near that, if anything deflation is a bigger concern, given how precarious the international economy is. Nonetheless, that is what the market reacts to, and you can't fight the tape.

To: Jeff Dryer who wrote (27368)	7/29/1999 6:18:00 PM
From: Frank Ellis Morris	Respond to of 41369

>>Has the Media been successful at creating a soap opera out of the Market?... I think the Media has. << Yes they are the biggest culprits of all, Sensationalism sells Frank

To: Jeff Dryer who wrote (27368)	7/29/1999 6:25:00 PM
From: Mark S.	Respond to of 41369

I think you said it best with your prior post "Pump and dump Wall Street". I don't doubt that day trading is here to stay. If anyone has ever been in the "pits", quite exciting. Now with instant access, anyone can play the game. Now that the financial world got larger, the stakes are much greater. We are in interesting times, and I wish I had more insite for the future. The market though, will be very volatile. But somewhat predictable. Yes interest rates has something to do with valuation. Inflation control is in our best interest. When I was young it was "in" to build up a 69 Chev camaro. Young kids now are building fast computers with all the bells and whistles.

To: Jeff Dryer who wrote (27368)	7/30/1999 12:15:00 AM
From: Tim McCormick	Read Replies (1) \| Respond to of 41369

You finished your thought on the media. But, what of the participants? When people are trading on ephemeral perceptions, they are more subject to event driven mood swings than if market valuations were based upon the more solid foundation of a discounted future cash flow model. It's all just a huge casino right now. The saddest part being that what was once a respectable profession, has been diminished to the level of a street game of three card monte. Events like the tragedy today are all part of the process of unglamorizing the mystic of internet stock mania. When southern California teens decide the net is no longer cool, and bragging about trading at cocktail parties is no longer chic, then we will be near sharp pencil stock picking time. Tim