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To: Mike M2 who wrote (79885)	12/16/1999 11:07:00 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 86076

projecting higher levels is what makes them bulls, no? <ggg> i have looked at some cycle work recently that projects much higher prices into 2000. i know it's a sort of voodoo, but it has worked remarkably well in recent years. after all, the Dow and S&P haven't yet really joined the blow-off stage...and the recent mad money supply expansion argues for more upside, as traditionally the indices rise further while money supply growth begins to contract. usually they top out 4-6 months into the beginning of the contraction. knowing the Greenspam Fed, i actually doubt they will remove the excess liquidity, unless they are forced to do something due to a collapsing dollar and/or bonds.