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To: Defrocked who wrote (65423)	9/30/1999 2:31:00 PM
From: pater tenebrarum	Respond to of 86076

Def, lots of short covering going on imo...and the bonds are not a surprise, remember the 29bn? they're redeployed in bonds. if you look however at the little details of the Chicago PM report, none of them are bullish for the market...a drop in the headline figure accompanied by the highest prices paid in a long time means shrinking profit margins. at some point corporations will either be forced to pass the higher input costs on in the form of price increases, or earnings will come down. neither nor is any good. interesting that the dollar doesn't want to join the celebrations...ah well, the day's not over.