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To: Terry Whitman who wrote (3956)	7/15/2000 10:35:57 AM
From: re3	Respond to of 436258

would that be WALTON's Mountain ??

To: Terry Whitman who wrote (3956)	7/15/2000 5:27:18 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

<<All the bull clowns at the office are certain they're going to get rich in tech stocks again. How short our memories are>> I'm seeing the same sentiment in my community. This (lack of caution) underscores that the action in March-May was insufficient to bring about significant "cleansing" of speculative sentiment. Therefore: 1) The Fed will be forced to raise rates again 2) Inflationary pressures will push prices higher (especially on the wage side) 3) The housing bubble will continue to expand 4) A bigger correction is ahead. I think possible 3-6 weeks of upside first, then everyone and their brother will be trying to head for the exit at the same time, in order to avoid the fall "correction", election year or not. If some external, unforseen event (war, earthquake, Euro CB'ers growing a spine) were to happen, the timetable will be accelerated. The market presently is like a pile of tinder soaked with gasoline; one spark and she goes up in flames. Fire Chief Patron signing out!