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To: bill meehan who wrote (56754)	8/17/1999 10:02:00 AM
From: re3	Respond to of 86076

yes, and when the dow hits 40K, we'll always have that pea soup comment to cherish <ng> has mu opened yet ?

To: bill meehan who wrote (56754)	8/17/1999 10:37:00 AM
From: pater tenebrarum	Respond to of 86076

Bill, re:the VIX, it has dropped sharply, but put/call ratios have remained curiously high throughout the rally, so the rally is met with skepticism, usually a sign it has further to go. NYSE members have been net buyers for five weeks in a row and there was a lot of pessimism in the air prior to the turnaround. it'll be transformed into euphoria soon enough... the last chance for the bears near term is the trade deficit on thursday - it could pressure the buck and stocks and bonds along with it. we'll see.... hb