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To: ChinuSFO who wrote (27605)	8/1/1999 9:49:00 PM
From: jmac	Respond to of 41369

I don't necessarily think that. I am worried about that. Last year, as i recall, the correction started with the DOW. The techs held up very well. I remember that I kept saying, its going to be OK, the techs are hanging in there. But, eventually, they got hammered. Now this year is different than last year. There is no Asia meltdown and Russia--nobody seems to talk about anymore. BUT, there is China and Tawain, there is a potential China devaluation. There is, for some very strange reason, a dollar which has weakened by 7% in 2 weeks against the Pound and Euro at the same time that there is talk of HIKING US interest rates. There is no summer slump for PC sales yet DELL is almost flat for the year. The internet is growing by leaps and bounds but CSCO and LU are stuck in the mud and the Internet pure plays are down 50% in the last 3 months. I simply don't want to go through another August and September like last year. I am up almost 25% for the year and I don't want to give back half of it during the next 2 months. I haven't sold, but I am a very nervous BULL. And, lets not forget Alan Greenspan--the only person in the US who sees inflation on the horizen. He wants to slow down demand not inflation. Interest hikes of .25% ain't going to make that happen. The only thing that is going to cool down the consumer is a bear stock market. We all feel to good. Yet, he is convinced that raising rates .25% at a time will cool the economy. It's a strange market.