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To: Elmer who wrote (103881)	6/3/2000 4:50:00 PM
From: Tony Viola	Read Replies (1) \| Respond to of 186894

Elmer, I listened to Brinker's opening 1/2 hour just now. He's calling this a bear market rally, expects the markets to "roll over" again in August or Sept. Expects the Naz to go up more short term, for an overall increase of 20-25% or more (at +19% now from ~3200). He basically expects the markets to be in a malaise for a long time, maybe years, doesn't know how long yet. He also said the unemployment number yesterday (4.1%, up from 3.9% previous month) was in stark contrast to a bunch of other employment indicators that have been coming out. He's the first one I've heard come to that conclusion. So, basically, Brinker's turned into a bear. Quite a change from his stance over the years, when he made fun of the "Bad News Bears" over and over on his radio show. Nothing wrong with that (being a bear, not making fun), and he's entitled to his opinion of course, but if we get a soft landing after all the rate hikes, what's the background scenario that he sees to call for a bear market? I completely oversimplify here, I know. Tony Now he's talking a lot about the Fed possibly having set the stage for a recession, his callers parroting him as usual, kissing his butt. I think he's looking for attention because he'd become so much "buy index funds and sit back and wait, most all tech stocks are overvalued" that he was downright boring. Probably feared losing his following and program. JMO, do your own DD.