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To: Robert Rose who wrote (103352)5/13/2000 1:20:00 PM
From: GST  Respond to of 164684
 
Robert <With inflation indicators waning> Whatever gave you that idea?? The elephants are holding off in part because the inflation/growth picture is far from clear. Of all the recent data, last week's PPI was the least important -- and if you looked at the report, intermediate product prices are a problem -- crude products were down but oil is no rebounding to the 30 dollar area and could well go higher. For the high multiple stocks, higher interest rates will cause severe multiple expansion -- do you think the elephants are stupid for waiting??