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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Graeme Smith who wrote (6095)	1/15/2000 5:33:00 AM
From: Dale Baker	Read Replies (2) \| Respond to of 10293

If everyone comes to expect the 3/4 point increase by July, then it won't make much difference. The market will price it in gradually. The 70-80% drop in the NASDAQ is just absurd. But if you are that sure, short the QQQ today and don't cover until it hits 40. Fax me your trade confirmations so we can keep track. Thanks. The only problem will come when the phone company shuts off your line for non-payment, about 3 days after the margin call on your short position. It's one thing to debate whether techs are worth holding in the short-term. The long-term economic revolution brought about by technology companies is a tidal wave you can't just wish away.

To: Graeme Smith who wrote (6095)	1/15/2000 7:01:00 AM
From: JDN	Read Replies (2) \| Respond to of 10293

Dear Gaeme: I agree with Dales response to you and would add to it, IMHO the market is a function of LIQUIDITY as much or more than INTEREST rates. Could there be a pullback, of course but very unlikely to exceed 30% and even that would be considered a HUGE buying opportunity and would suck all the money in the world into the Vortex. My theory, since we all seem to have one, is that in fact we have been correcting for some time. Its just that rather than a blanket market correction its a rolling correction within individual stocks and groups of stocks within the market. Example are small caps, financials and the like. I think these rolling corrections take the strain out of the market. JDN