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To: Eski who wrote (39925)	9/15/2000 4:32:44 PM
From: The Phoenix	Read Replies (1) \| Respond to of 77400

Yeah... CNBC knows everything.

To: Eski who wrote (39925)	9/16/2000 8:18:12 PM
From: Eski	Respond to of 77400

Haven't we been here before? It seems like we've been here for a long time. Since the most venerated of the indices, the Dow, hit 11,000 nearly 18 months ago, a persistent weight has kept the Dow anchored in a wide and loose trading range. While the Dow/S&P remained boxed in, the Nasdaq 100 (NDX), the lair of the golden bulls of the new-era cult, snorted up a 140%-plus stampede--that is, until the weight of profit-taking tripped up the parabola this spring. There are a lot of things you can do on a spike, but you can't sit on them. Spikes don't need a reason to collapse, they fall of their own weight. So despite the input of the federal reserve that has pumped up the money supply at a 10% annual rate in the last few months, fueling the economy and flooding the excess over into financial instruments, the equity markets did not continue their summer jaunt. Despite margin debt surging back to the levels of last spring, most of the major indices remained not only substantially below prior highs, but are flirting with breaks of important support. While the opium of the Street--easy cash--spiked with the conventional wisdom that the market always rallies into an election, instead of a rally, the market appears to have OD'd on the August momentum. The herd mentality never ceases to amaze me. Money manÿ