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To: GST who wrote (103749)	5/22/2000 12:20:00 AM
From: Sarmad Y. Hermiz	Respond to of 164684

>> -- the market just keeps going down with periodic fitfull but sad attempts to rally until July when it bottoms but does not come up for air and everybody basically becomes less interested in stocks at any price << Yes, that the nightmare scenario, allright. But I think that will apply to the indexes and high P/E stocks mostly. You know, even in these past few weeks, some of my stocks like JCP, S, TEX, USG, DCN, F, ACK have gone up. They have one thing in common. They make profits. Some are very profitable and cash rich. They pay a decent dividend (I can hear the new economy boys guffawing over that one). And they sell at very low P/E. So I think the profitable value stocks have hit bottom. But I agree that there is not much demand for these stocks and the "average" speculator wants to hit a home run with some tech stock they hear on CNBC. Until these fantasies die the hard way, I am prepared to wait it out while the market just grinds down. But I don't think we'll have another .5% rate hike next month.