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To: Lee Lichterman III who wrote (779)9/14/1999 7:59:00 AM
From: jttmab  Respond to of 10713
 
Lee,

It's possible that the whole mania/burst could really end with a wimper. A 12% market hit with some sectors, i.e., the nets, getting what they deserve; some overvalued but true growth equities taking an additional hit. The markets then trade sideways while revenues and earnings catch up with the valuations. The market as a whole hasn't really been in a mania....it's been, proportionately, a few equities as shown by the A/D divergence.

Best Regards,
Jim



To: Lee Lichterman III who wrote (779)9/15/1999 6:56:00 PM
From: jttmab  Read Replies (1) | Respond to of 10713
 
Lee,

It looks like it may be time to splash some cold water on the face and reach into the ring and pull that towel back! <g>

I saw the CPI this AM and even the bears seemed ready to go long! I might be inclined to short QQQ but options expiration week makes it crap shoot; I think I'll sit out. I pulled a large day trade going long on Tuesday and went to cash by the end of the day. It went well. <g>

Did you notice that all the international markets seemed to be looking at our CPI? It should make one nervous when the world looks at one stinking number.

Heinz is a pretty bright person and has a good command of facts, but 6500? He's starting to sound like Lucretious.

Best Regards,
Jim