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To: Crimson Ghost who wrote (75249)	10/1/2000 4:22:16 PM
From: SliderOnTheBlack	Respond to of 95453

<<This reflects a kind of bearish arrogance -- "yes I know the market is going down a lot, but I am smart play the bull to the last second and get out just before the crash" -- that cost a lot of people dearly in 1987. >> ...yes; George, that is exactly what is happening. Instead of seeing people say; Hey; this has been a great run, if not an irrational equity bubble. A correction is coming - allways has come, allways will. I know it's coming, I just don't know when - I've made a bundle - I'm out... - it's "I'll try to catch one more ride"... but; the NAZ hasn't recovered in nearly one year here.... if all is fine & productivity is entering into a new era; if Food & Energy don't matter, if there is "really" no inflationary threat, if the Fed is done, if Gold is dead, if the Euro is a flop & the Dollar is king; then why is the NAZ still flirtling with falling thru 200 day support EVEN with obvious end of quarter - self serving tape painting and why hasn't it gotten anywhere near it's former highs here ? The markets could easily get cut in half in merely the return to historically normal valuation multiples. It is as if Bear Markets are a figment of our imagination; as if they really never occured; let alone are they most likely to arrive atop bubbles ? - amazing the degree of denial that manifests itself into the market place. The crash catalyst ? $50+ Oil, inflation finally being acknowledged; A flight from the dollar due to account deficits - Euro support, the next LTC ... By the way; acutal "historic highs" for Oil & Gold if adjusted for inflation in todays dollars would be : Oil - $81.96 Gold - $1,791.56 That chart comparison showing the separation in reality between INTC's Price to Sales valuation multiple & it's actual revenue growth is sobering... should be any way. Maybe when Cisco cracks - they'll get it. They didn't with Lucent, Microsoft, P&G, Intel, or Apple - there's allways a new corner in which to run & hide... maybe soon; they'll run out of corners... ?