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To: Ken98 who wrote (2605)	7/7/2000 3:49:26 PM
From: John Graybill	Read Replies (1) \| Respond to of 436258

Everything's been marched up at gunpoint all day long, but at 3:00, when the funds do their buying, the volume and price action has been just manic. FWIW, it looks to me like the big firms wanted to make sure stuff was marked up big-time today by 3 pm to unload it on the funds using the last of their end-of-the-month 401K money.

To: Ken98 who wrote (2605)	7/7/2000 3:49:47 PM
From: Archie Meeties	Respond to of 436258

The premature buying of cyclics and retailers - way before the full effects of the latest round of rates hikes are known - is characteristic of deluded bull thinking.

To: Ken98 who wrote (2605)	7/7/2000 3:51:20 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

the answer is, they can keep it up forever. as for why retailers are going up, well, there is no slowdown. that's a WS propaganda invention to get the Fed off their case and keep the money flooding in.

To: Ken98 who wrote (2605)	7/7/2000 4:17:48 PM
From: patron_anejo_por_favor	Respond to of 436258

Ken, regarding the BLS employment numbers, there was no revision to the May numbers today. I think the number may actually be good. Labor markets are undeniably tight however. I think there IS full employment, and any residual unemployment is due to the quality of remaining applicants being so low as to render them essentially unemployable. There is also a permanent, though low level of unemployment resulting from the perception that other jobs are better than what one now has, therefore quitting with the full expectation one will be hired whenever one wants. "The grass is greener" syndrome, if you will. In any event, the key figure now is not employment (since everyone will agree its very high), but employment COST. And that most assuredly is rising faster than a priest on viagra.....