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To: MileHigh who wrote (37882)	8/10/1999 11:56:00 PM
From: Michael	Respond to of 152472

Interesting quote < "We do not manage earnings," said Cisco Chief Executive John Chambers. "We manage our business very tightly and we're careful about not letting analysts' expectations get above our ability to meet them."> <Mr. Chambers told analysts in a conference call that Cisco expects the computer-networking industry to grow 30% to 50% a year, and that it would be "challenging" for Cisco to grow faster than the industry as a whole, because of its size.>

To: MileHigh who wrote (37882)	8/11/1999 12:01:00 AM
From: limtex	Read Replies (2) \| Respond to of 152472

MH - Remember this time last year and Ralph Accompura turned on a dime and declared a bear market. I remember him talking to Mark Haines and saying " Yes, its a bear call". There may have been reasons for it last year but this year the ONLY reason for the drop is Mr Greenspan. He spat his venom against the market during his recent appearance before the Committee. He has previously revealed his prejudice against the market but this time he couldn't control his feelings as he hissed his carefully crafted invective. He knew (or ought to have known) precisely the effect it would have. He knew that even if he spoke for an hour positively the market would only focus and remember the one or two negative comments. I trust he is now content. Best regards, L

To: MileHigh who wrote (37882)	8/11/1999 8:47:00 AM
From: jmac	Read Replies (1) \| Respond to of 152472

That's what I said..only didn't have the numbers to show it. Wasn't last year's "correction" in the NAZ a little over 20%? Only, if I remember right, the DOW started to sink first last year. I remember telling myself, the NAZ is hanging in there pretty well and then all hell broke out. I disagree with the interest ratepolicy which has been forthcoming from AG. But, I can't influence it. So, given that rates are going to rise another .25 this time and another .25 in October because demand is so high and the employment pool is so shallow, I believe that this market may not meaningfully recover until years' end. Unfortunately for me, I didn't see this coming at all. I was fully invested in the market on 7/16 and now that the NAZ is down 14%, I am not about to get out. It's just painful every day watching CNBC and seeing it happen all over again.