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To: Rarebird who wrote (55408)	6/28/2000 3:44:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 116753

We read this market differently I put in an order to buy some BEARX at the close. Not a lot, but will buy more if the market moves significantly higher. I see a big move down beginning next week. VIX at a very euphoric 22.5 Holding my FSAGX.

To: Rarebird who wrote (55408)	6/28/2000 5:47:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116753

If the Fed holds off on another rate hike until August, what would that mean for stocks? Kellner says ?irrational exuberance? could ?make a return engagement,? unless the Fed dampens it with some cold water. ?You might see some sentiment to rally,? Kasriel said. ?But upon more sober reflection, I don?t see why it should.? After all, if Fed policy really is slowing the economy, then profits will suffer. And if Fed policy isn?t slowing the economy, then Greenspan will raise rates some more and then profits will suffer. ?I don?t see this as a particularly bullish environment for stocks given what they?ve done,? Kasriel said. cbs.marketwatch.com