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To: Philip W. Dunton, Jr who wrote (2915)	7/5/2000 1:37:40 PM
From: tejek	Read Replies (1) \| Respond to of 3661

Ian, It is getting harder and harder to hide in this bear market. You may be right about SSB but the charts don't lie. They have been telling an increasingly bearish story for the group over the last month. I think Greenspan has done a good job of killing the economy (the Fed always has a history of overkill) and we are starting to see the slowdown hit areas that are big chip consumers like autos, PCs, cellular phones etc. I knew it was only a matter of time before an idiot analyst picked up on this. Well, if this is the price we have to pay to keep the "inventor of the internet" out of the White House, it will be worth it, imo. Good luck, Ph Phil, There is little if any empirical evidence that a slowdown has started world wide. At this point SSB is speculating that there will be one next year. They may be right; although I find it hard to believe that the two fastest growing areas....Asia and Eastern Europe...will go back into recession having just come out. Nonetheless SSB is just big enough that if they take their money out of the markets, the charts will show it. However I don't think its a forgone conclusion that the semi's are going down. Like always someone buying on today's dip is either very smart or a fool...unfortunately only time lets us know for sure. ted