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To: AllansAlias who wrote (30311)	10/21/2000 3:16:52 PM
From: UnBelievable	Respond to of 436258

The Links Work And The Charts Are Good After Fridays market I spent a fair amount of time going over longer term weekly and monthly charts (log scale <gg>). Any way I looked at it the last few years where very atypical. The WOW charting program calculates and inserts a linear regression line based on whatever portion of the data you choose. I then overlay a trend line on the regression line and project it into the the present data. It is truly impossible to find a meaningful period of price data which project anywhere near current price levels. I have no idea how long the liquidity infusions which have enabled this disproportionate growth of stock prices relative to any meaningful level of current or expected growth in productivity can continue without spilling over to create inflation that can no longer be avoided. Clearly the fact that the rest of the world appears so economically weak has enabled the US to monetize the market with so little impact on the value of the dollar. I think that the clearest evidence that the day of reckoning is fast approaching is the wild price swings in equities. When the market can change the value of a company up or down by 25 - 50 % in a few days based on no fundamental change in their situation, that of their competitors, or overall economy how can anyone argue that the prices are based on any economic reality. It is interesting that no analyst or economic commentator in the main stream has pointed to the wild price movements as clear evidence that both the stock market and the economy within which it operates is very sick. For those inclined to harvest the benefits of the mania I would add the caution that mirages tend to let you down just when you need them the most.