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To: John Pitera who wrote (53845)	7/29/1999 10:35:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 86076

John, I believe we will see the DJT take it's recent lows, it broke a triangle today. The market has ignored so many bearish divergences to the point that the wall of worry has been climbed and trapped a whole bunch of bulls who have a bundle of call options and bought shares on the good earnings breakout in July. We have had a massive amount of supply come to the market in stocks and bonds as everybody is feeding off the bullish euphoria, while mutual funds inflows continue to underperform the last couple of years and j6p who would have sent his money to mutuals has opened an etrade account and bought yhoo and aol at the top on margin. The whole thing is supply and demand, and I believe we have built a large overhead supply here of stocks and bonds, with the $ reversing we are taking out the foreign demand also and turning it into supply. bb