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To: bill meehan who wrote (64853)	9/28/1999 5:13:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 86076

Bill, funny, i just mentioned the buyback-for-debt problem in a post. the Northern Trust economic commentary recently showed that the Fed's own data on this reveal why and how the bubble could assume the proportions it has. this year another important factor has entered the picture and that's foreign fund flows. since foreign inflows into U.S. equities have reached record highs this year, their confidence or lack thereof will be the key to this market's near term future. my guess at this point is that the next current account/trade balance data may well become a crucial moment w/regards to this. today the market was saved from the brink due to record high short interest on the Nasdaq and the usual egg-in-his-face call by Ralph Acampora. since by now even CNBC has identified him as a contrary indicator he may be finally right though...<g>