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To: marginmike who wrote (53665)	1/3/2001 7:10:21 PM
From: patron_anejo_por_favor	Respond to of 436258

<<This will launch the broader market into all time high's(BKX,DOW,SPX)>> I doubt the Dow will make an all-time high, there're too many defensive issues (ie, MO, FNM, MMM, MRK) in the Dow that will counteract the move to cyclicals and tech trash. Actually (amazingly!) 9 of the 30 dow stocks were down today: bloomberg.com In addition, the breadth was only 3 to 1 on both the dow and the Dung (though Up:Down volume was more respectible on the 'Dung). Not saying it's impossible, but the Dow has more of a drag on it than the 'Dung at this point. To me, this feels different than '98 in that there was clearly an external, defined nidus (LTCM, foreign currencies) that the rate cuts were targeting. Now it's the entire economy that's tanking, so I'm less optimistic.<g>