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To: The Ox who wrote (78992)	11/14/2000 10:15:33 PM
From: chowder	Read Replies (2) \| Respond to of 95453

Hello Michael! >> I believe much of the market's current progress (or lack thereof) has been defined by the 6 rate hikes. I'm of the opinion that it takes anywhere from 6 months to 18 months for a rate hike to finish being absorbed by the economy. << Count me in the camp that "wouldn't be surprised" to find that a conspiracy or two does occur. Be that as it may, I too am of the opinion you stated above in the first paragraph. In my opinion, those rate hikes haven't worked their way through the economy yet. I am of the belief that is why we'll see a Naz 2500 by year's end, a Naz 2300 beyond that and we will not see a Naz 4000 in 2001. In my opinion, there has been too much money lost in the market since March of this year. That's money that will not help push valuations up to earlier levels. I have a long list of companies 70, 80 and 90% off their 52 week highs. That's a lot of buying power to disappear to the market gods. There's also a chance I could be very wrong, but I'll plan my trades accordingly. dabum