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To: sylvester80 who wrote (57634)	10/18/2000 8:05:29 AM
From: Earlie	Respond to of 93625

Sly: Sorry that I missed your post. Just caught up with it. Well done on that trade. I always like to see folks make money in the market. My comment with respect to "shrinking PEs" was meant to be generic, and I think the broad numeric data flowing from the market supports my point of view. Personally, while I prefer to be a bull, in this environment, I am much more comfortable being a bear. With the advance/decline line having been in descent since April 1998 (with no relief in sight), with most earnings either falling or accounting nonsense, with oil rising, with Asia tanking, with inflation rising, with bond spreads having opened up like chasms, and above all else, with the American consumer (finally) pulling in his horns, its tough to make a case for being bullish on stocks. And it has been profitable being a bear since early 1999. Best, Earlie