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Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: John Rieman who wrote (43584)	8/3/1999 6:14:00 PM
From: Black-Scholes	Read Replies (1) \| Respond to of 50808

If the PPI and CPI come in benign (that means flat to lower) and I think they will, the market will explode. Inflation means (and only means) higher prices. Higher wages are not reflected in inflation numbers. Higher wages are only important if one thinks the Phillips curve is meaningfully predictive (I don't think the Phillips curve is useful simply because productivity has been systematically underestimated for the last five to seven years). The CPI has DROPPED for the last two months! Anecdotally, prices everywhere are falling (except for oil). This market is oversold - IMO.