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To: pater tenebrarum who wrote (57589)	8/20/1999 5:01:00 PM
From: Giordano Bruno	Read Replies (1) \| Respond to of 86076

The siren song of the bull...inviting isn't it. Let's hope the FED can keep up with the high maintenance schedule.

To: pater tenebrarum who wrote (57589)	8/20/1999 5:05:00 PM
From: MythMan	Read Replies (1) \| Respond to of 86076

>> The currency market seems worried that rising interest rates will cause the US stock market to crash.<< they are? Could have fooled me. Perhaps that clown should check the VIX smithers.co.uk what do you expect from a Brit? -g-

To: pater tenebrarum who wrote (57589)	8/20/1999 5:43:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 86076

i can't. i agree... got calls?

To: pater tenebrarum who wrote (57589)	8/21/1999 2:59:00 PM
From: CYC	Read Replies (1) \| Respond to of 86076

Heinz, I can't find faults with the bullish case and the bearish case is certainly in danger, even though I know how ridiculous the market is at this stage. Here are some random thoughts that I have from my amateurish perspective: 1. The fed is already in a bubble management mode; even though easy Al said that the fed would deal with it after the bubble burst. The fed is actually worried that the bubble will get pricked all of a sudden. Why would they come out with a neutral standing after the last rate hike? Anyone could see that the inflation needed to be controlled with more than a 25 basis pts move. Why would they do all the coupon passes recently before the upcoming FOMC meeting from which a rate hike is almost certain? I still believe that a rate hike next week is unavoidable, but the fed will come out with some meaningless blah-blah-blah and yada-yada so that the market is not spooked. Whether they will be successful or not is another matter. 2. I was convinced that this last correction had all the elements of something significant to come; the rate was rising at least until five days ago, the dollar was going lower, commodities were rising, internuts were correcting more than 50%, and the rally had small volumes. Next week is pivotal, in my opinion. Regardless of what the fed does or says, let's see how the market reacts. If it continues to run up, I am going to close all my positional shorts and take the losses. Enough is enough. Perhaps, the bears will have to give up before this POS market collapses. Maybe not right away, but soon. 3. I actually believe that there are always stocks to go long and short in any market. The one mistake that I made in the past 2 years was refusing to go long while getting killed by my shorts. For now, I am satisfied with buying precious metals and Japanese equities little by little. Good luck to all.