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To: Sarmad Y. Hermiz who wrote (108401)	9/13/2000 9:22:06 AM
From: Robert Rose	Respond to of 164684

<I understand you're not expecting much of a rally any time soon!> Yep. Cross currents will keep the market range bound at best, with vulnerability to the downside. As some of my stocks have formed triple bottoms, I'm concerned. While a lot of these stocks look like steals, they remain richly valued when viewed in a larger historical context. It would not surprise me to see no meaningful, sustained rally until leading new economy stocks first approach historical measures of value. But I remain a bull LT, as the fundamentals of our economic restructuring are too compelling to ignore. Rob

To: Sarmad Y. Hermiz who wrote (108401)	9/13/2000 9:30:00 AM
From: H James Morris	Respond to of 164684

Sarmad, maybe if you joined the fuel cell rush you'd be heading up instead of down. Sincerely yours, The fuel cell freak >London, Sept. 13 (Bloomberg) -- Johnson Matthey Plc shares rose in line with rival U.S. developers of fuel cell technology after regulators in California agreed not to delay a regulation requiring 10 percent of cars sold in the state emit no pollution. Shares in Johnson Matthey rose as much as 82 pence, or 8.5 percent, to 1,050p, their steepest intraday rise since April. It gives the maker of catalysts for fuel cells a market value of about 2.33 billion pounds ($3.28 billion). Regulators decided yesterday not to delay a plan requiring 10 percent of cars sold in California, or about 22,000 in total, to emit zero pollution starting with the 2003 model year. Analysts say it could mean a boost for fuel cells, which produce electricity through a chemical reaction between hydrogen and oxygen, in theory producing only heat and water as by-products. Johnson Matthey is the leading maker of precious-metal based catalysts for use in fuel cells and reducing engine emissions. It's shares have risen about 47 percent in the year to date. A catalyst developed by Johnson Matthey can convert both natural gas and liquefied petroleum gas into hydrogen, which reacts with an oxidant, producing power inside the fuel cell. Plug Power Inc., a U.S. developer of fuel cells, surged 27 percent yesterday and FuelCell Energy Inc. gained 9.1 percent. Canada's Ballard Power Systems Inc. rose 5.9 percent while Active Power Inc, a Texas-based maker of energy storage flywheels and fuel-cell components, rose 15 percent. Johnson Matthey shares recently traded up 50.5 pence, or 5.2 percent, at 1,018.5p. Sep/13/2000 8:28 ET