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To: Dave Gore who wrote (119048)	12/14/2000 1:49:11 PM
From: Dave Gore	Read Replies (2) \| Respond to of 120523

BTW - I do not expect a major ongoing rally because any cut will not help the economy for as long as 9-12 months. If we get a rally based on the 19th announcement, it would be a "psychological rally" more than anything else. It would be an "excuse" for the market to rally. That's all. I hope we get a 10% up move or maybe even 20% by the end of January (and 5-10% by year end) but more than that seems hard to imagine. Knowing the markets ability to go to extremes quickly however, and with so much cash on the sidelines, who knows?

To: Dave Gore who wrote (119048)	12/14/2000 3:47:52 PM
From: hjz	Read Replies (1) \| Respond to of 120523

Dave, You can see from the move today that it was just short covering from the lows. There wasn't any momentum buying behind it today. I did not like the steep drop from the 3000 level on Wednesday , that was a bad sign. The FOMC announcement is the last thing that could return buyers into the market. Like the move on Dec. 5 when Greenspan hinted toward a neutral bias, we need a similar type of announcement or we could retest lows near the 2600 level. HJ