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To: bela_ghoulashi who wrote (15819)	4/22/2000 7:25:00 AM
From: arthur pritchard	Respond to of 35685

dear blandbut: thanks for that exchange!! Tim, where are we now within those two concepts. (My friend tim is really very smart about these things, but he can be quite shy; help me ask him.)

To: bela_ghoulashi who wrote (15819)	4/22/2000 10:13:00 AM
From: Jim Willie CB	Read Replies (2) \| Respond to of 35685

BlandMan, interesting exchange highlights conflict sometimes the stock market effectively discounts future economic and business conditions (that is its job) sometimes the stock market effectively corrects current excessive speculation and unbridled runups (that is its job) the latter is more the case now that Y2K Meltup predicted by Tom Galvin and witnessed from November thru March was unprecedented the midMarch peak of 5150 was a true classic blowoff since then, the market has adjusted with a definite pall cast over, marked by doubt, questions, worry, and some fear as was the case of taking it too far upward, it now is likely to take it too far downward what we have seen so far is probably the bottom what we see next is defining it, amidst conflict between the two camps, mediated by the central camp the only way a market can catch itself, is by taking it too far down, then concluding it took itself too far down, thus creating an upward bias that can carve and shape the bottom some tremendous titanic conflicts must be resolved they are being resolved via opinion, data, and actions I am extremely optimistic about the second half of this year but I would like to see more steady hands driving it up I would also like to see some steady hands here & now this whole MSFT effect has me bitchin mad they lead the entire tech sector down when a more healthy competitive environment is the byproduct what a lame reaction if believed "MSFT profits and strategic strengths are vulnerable, therefore all tech firms' profits and strategic strengths are vulnerable" I am actually beginning to hope for some good news for MSFT at least for a little while what will happen to NAZ if courts rule in lateMay that they owe and are liable for $1.5 billion in damage awards? / Jim Willie