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To: bill meehan who wrote (72418)	10/28/1999 1:56:00 PM
From: Haim R. Branisteanu	Read Replies (4) \| Respond to of 86076

Bill this rally smells more as a massive short covering combined with window dressing. The economic data did not warrant such a move from yesterday's lows. the real world inflationary pressure are not reflected in the formal statistics since last April. The economy is starting to soften only now. IMHO the market is interpreting the economic statistics upside down. Hi Tech face substantial weakness retail stores are not better of, and the consumer is over his head in debt. Softening in the ECI does not reflect compensation under various stock option plans which is now part of every compensation package. The oil weakness indicates a softening in the world economy, as were the recent statistics from Japan. The end of this mania will surprise everyone. BWDIK Haim