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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (35458)	5/24/2000 10:38:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 42523

unfortunately the big cap bubble as such is far from bursting. my argument that once the NAZ blow-off is stripped out of the equation the stock market on the whole looks actually quite perky still remains valid. as Fleck has remarked in today's rap, the S&P is actually higher NOW than it was when the Fed's tightenings began. this is rather remarkable. as the election draws nearer the market will begin to anticipate lubrication by the Fed...tight money is not part of Al's vocabulary after all. he raises rates, but keeps printing. only a decline in the dollar plus additional evidence of rising inflationary pressures (and thus a less print-happy Al) can shove this thing over the cliff i fear...