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To: Archie Meeties who wrote (18019)	5/10/2000 7:05:00 PM
From: carranza2	Respond to of 35685

Wonderful post, Archimides. Unfortunately, most investors do not realize that the Fed's mission is to act in the national interest, not in the interest of the stock markets. The national interest is best served by low inflation. If that means that stock markets have to take a little friendly fire, well...too bad. I'm convinced that Greenspan believes that the "jawboning" he has done was insufficient as were the previous hikes. Get ready for at least a 50bps hike, if not more, and a strong statement that more "tough love" might be on the way. It means the end of speculation and any hope of a quick return to the absurd valuations we've had recently. But the bull return in 12 to 18 months, and this time he'll have a proper foundation under him. The business cycle is not dead, just more manageable. There is nothing new under the sun.

To: Archie Meeties who wrote (18019)	5/10/2000 7:11:00 PM
From: Mannie	Respond to of 35685

Archimedes- Good points all. But you conclude with, <The inventory is gone, the selling persists, and so and so is free to cover when some fair or undervalutaion is reached. This is usually accompanied by the issuance of a "Sell" rating.> How often do you see a "SELL" rating? Virtually never.I can't remember a sell rating on a quality company like your examples of QCOM, DELL or CSCO.

To: Archie Meeties who wrote (18019)	5/10/2000 7:54:00 PM
From: Voltaire	Read Replies (1) \| Respond to of 35685

Hi Arch, I could not agree more with your last paragraph. What must first happen though is for the Houses to lose control and I agree with your assumption but that has not occurred as of now. I was playing golf with Rob Johnson today and told him, if the Fed raises 50 basis points and then 25 the next time, they will have the Houses on the run and I am outta here on the long side. I do not deal in absolutes my friend. Good constructive post. We appreciate that kind of a visit. V

To: Archie Meeties who wrote (18019)	5/10/2000 7:55:00 PM
From: Voltaire	Respond to of 35685

Hi Arch, I could not agree more with your last paragraph. What must first happen though is for the Houses to lose control and I agree with your assumption but that has not occurred as of now. I was playing golf with Rob Johnson today and told him, if the Fed raises 50 basis points and then 25 the next time, they will have the Houses on the run and I am outta here on the long side. I do not deal in absolutes my friend. Good constructive post. We appreciate that kind of visit. V