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To: chic_hearne who wrote (26163)	10/10/2000 2:54:05 AM
From: Haim R. Branisteanu	Respond to of 436258

** Message 14544940

To: chic_hearne who wrote (26163)	10/10/2000 4:08:02 AM
From: y2kate	Read Replies (3) \| Respond to of 436258

Thanks, Chic. I appreciate your take...wish I could say I was hedged for everything! No one can argue that gold hasn't been a better place to be over the last month or so than tech, particularly the wrong tech. The kind of rush for the exits you're describing- what kind of catalyst do you see for this scenario? I would think it would need to be something drastic. If real fear and panic sets in where it counts- i.e., in the big brokerage houses and the financial industry- you don't think the government is going to pull the levers necessary to keep things under control? I think it was fall of '98 when Greenspan lowered rates three times within a couple of weeks to stem a market decline. It seemed pretty bleak then, too. Of course, the annihilation of internet stocks, many of which are down for the count IMO, does speak to a different environment now. But the financial industry is not the business of not owning stocks- and a healthy stock market is definitely in our national interest. There are powerful forces at work in keeping it all afloat, and I think they are bigger than any of us. I think those long the market, over time, find themselves in alignment with those forces. You say that anything in the middle is a worthless prediction, and all that matters is the long term direction-but the the long as in long term direction of the markets is up, not down. That's the big picture. And really, we are living in extraordinary times. Who could have imagined the prosperity we're enjoying today twenty years ago? Look at the wealth that's been created. We are a very productive society still in the beginning stages of a technological revolution that has and is fundamentally changing the way we live and work and think. I think stock picking is going to be extremely important as people abandon the junk. But I just can't see the markets falling to pieces like many are predicting, and especially not now, with the fourth quarter looming. That said, I could be wrong, and want to learn how to think and act like a bear. I could have made some serious money just doing the opposite of what I've done this year so far. Funny- have you noticed that everybody tells you what stock they're (ostensibly) buying- but nobody will tell you what they're selling short <g>?? -Kate edit: sorry about long message, it's late and I'm rambling..!