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To: ild who wrote (22175)	9/27/2000 2:00:36 PM
From: pater tenebrarum	Respond to of 436258

i'll be brief...first of all, it is funny that the first day after Kaplan tones down his bullishness sees the biggest one day rise in gold and gold stocks since an eternity. that about answers your Kaplan question i think. as for the broad market, i think it will be in trouble until the cycle low in late October/November. with the occasional big bounce thrown in of course. there is no shame in having been bearish too early in this mania...i think even the bulls were surprised at how extreme it got. the smart money has been distributing stocks all year long imo...note, the commercials still maintain a huge short position in the spoos, and until they cover and go majorly long, rallies will be for selling.