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To: Gary Burton who wrote (56922)	12/15/1999 12:58:00 AM
From: ItsAllCyclical	Respond to of 95453

Gary, (CSCO) news link showed 8:18pm, but someone else may have broke the story earlier, but can't find any links. I think the techs are just looking for an excuse to sell off and it won't take much. I think oil prices spiking to 30 would do it. Also, read the EW article you sent me. They rehashed many of the arguments that have been voiced over the last 5 years to justify their chart readings. I found it interesting and scary, but their prediction of DOW 777 left me wondering about their sanity and put the whole report into question imho. I could see 4000-5000 in a really bad market. If we do see a bear I see a pullback to the 7000-9000 area and staying in that trading range far more likely than a 90% pullback. Yes there is insanity in the markets, but it's really confined to a small part of the market. Most stocks lost money last year. In that sense we're already in a bear. I do not think the overall market has reached Japan's levels when it was near 50,000. Ok, that's my long term view. Short term tech valuations are scary. 10% could come off and they'd still be high.