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To: timers who wrote (50935)	12/26/2000 10:45:34 AM
From: pater tenebrarum	Respond to of 436258

well, number one, there is very little fear...the 'fearless forecasters' poll had only 9% bears on Friday, and their 'smart money' poll had 0% bears. i would expect also some indicators to simply fail in the course of the total market wave 3, so we may get to a point where everything looks oversold and then the expected bounce just doesn't happen. longer term i'm looking for the rate cuts to ignite a rally once they become a fact instead of just a rumor, and that rally should then roll over again once it becomes clear the cuts can't stop the economy's downside momentum. once confidence falters, rate cuts mean very little...just as the rate hikes were initially brushed off by the market when confidence was still high.