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To: Sonny McWilliams who wrote (24523)	10/17/1999 9:23:00 PM
From: Brian Malloy	Read Replies (3) \| Respond to of 27012

I think the Fed Chairman is crying Wolf too often. In a few more months people will pay less attention to him or even the fed raising interest rates. The stage is being set for one of the biggest rally's the markets has ever had in early 2000. It will dwarf what we had in late '98 through the spring of '99. Glassman has a much firmer grip on where the markets are heading than most. AG talks about the volatility in the markets and to some extent I think it fair to say that he in part due to his little speeches at key times, like the night before options expiration, he deserves part of the blame. The man is not dumb, he knew what was going to happen Friday given his comments. I often don't agree with Barron's or some of the things the Bob Brinker says but they are both right when they say that if the Chairman was really interested in stopping speculation he would raise the margin rates. Bob Brinker says he doesn't know what the Chairman is doing anymore trying to talk down the markets. I continue to think that the fat cat boys on the fed, the banks and the major investment houses in general get a relative free ride with regard to the S&L crisis of the past, the implosion of selected Hedge Funds and foreign countries and markets abroad. While it seems the individual investor in America gets a back handed slap. It's always the little guy that is "going to panic" and the vast majority of Americans don't speculate, don't own internet stocks and don't daytrade. Yet you would think that 75% of people in the country are stock market addicts if you listen to their jibberish. Bottom line I maintain a retest of the 9,800 level on the DOW then we may see another 3% to the downside. Then watch out cause this market will be ignoring the FED and headed to new records on the DOW, S&P and NAZ. IMHO

To: Sonny McWilliams who wrote (24523)	10/17/1999 11:31:00 PM
From: musea	Read Replies (1) \| Respond to of 27012

Sonny, I do sincerely hope Mr. Fed is not going senile. That would be a certain disaster, at least before he was replaced. He is opening his mouth a lot, but I don't believe he's shooting from the hip. He has a plan for every word he says. It might not be the one that would help either an incumbent president up for election or your or my portfolio. Bill Gates is optimistic about the future, and has been for a long time. Ballmer might well have been shooting his mouth off. I don't know that Ballmer has a clue about what's a reasonable price for tech stocks. He does know how to run a tech company, but I don't believe that this ability necessarily carries over to the stock market :-). As far as bargains are concerned, I will buy in the next two days if I see something really good. I'm not one who can be hurried; if I don't make that $5, it's OK because I'm in it for $100 per share over the long term. Globex looks grim right now (10:27 CDT). -musea