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To: Haim R. Branisteanu who wrote (72566)	10/28/1999 8:29:00 PM
From: Terry Whitman	Read Replies (3) \| Respond to of 86076

Haim- You really think oil is forecasting a recession soon? It was falling for years while the market was growing. I follow technical indications closely- I'm sure you recall. <g> They are mostly crying out bottom. It is by no means a lock however. The A/D and NH/NL need confirmations. The generals are all headed to battle. The soldiers are following at the moment although reluctantly. If the soldiers keep following, and the A/D and NH/NL confirm, I will start buying I have a few problems with going too bullish at the moment. Firstly, we have not had a complete wipeout in J6P stocks and funds. Secondly, we have never witnessed the death of a mania of this size and participation- therefore it may not die in textbook fashion. Thirdly, the Fed knows it is a manic bubble, he knows history- hell he is 70 years old- he is living history. I am not certain he wants to be known in the history books as the man who allowed the final blow off. BWDIK, TW