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To: fedhead who wrote (4870)	7/20/2000 8:41:15 PM
From: pater tenebrarum	Respond to of 436258

Anindo, there was some talk of the July top being re-enacted this year, but the majority doesn't really believe that. otherwise the sentiment data would show a lot more caution. otoh, perhaps we rally into the next cycle turning point in Aug. this year, with the traditional October dump thereafter. there is definitely not much conviction regarding potential near term downside though. 12% AAII bears, that's one for the history books. if the Fed's hikes really slow down the economy that soon, stocks should begin to discount that much earlier. the truth is that currently both the Fed and the government are stimulative as if they were fighting a recession already. it is truly bizarre.