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To: Lucretius who wrote (67322)	2/13/2001 3:45:09 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

that's one of many bull hooks...as is the new highs list, which no-one really takes the time to look at closely. oil royalty trusts, REITS, bond funds...that's what's populating the NYSE new highs. i also just heard that the 'inflation risk is zero'...maybe, but only if you define inflation along BLS lines...i'd say expanding the money supply at a 20% annual rate is PLENTY of inflation, and under Greenboink the risk of even more inflation is extremely high...

To: Lucretius who wrote (67322)	2/14/2001 6:46:58 PM
From: sea_biscuit	Read Replies (2) \| Respond to of 436258

Today's Investor's Business Daily put it very well -- just as a few dozen (rising) large-cap stocks masked the increasing number of New Lows after mid-1998, now the same (declining) large-cap stocks are obscuring a bull-market among the rank and file. I think in the coming year or two, the S&P Smallcap 600 will handily beat the S&P 500, while the S&P 600 Smallcap Value Index will beat the pants off the S&P 500 Growth index. This also ties in nicely with rising inflation, which the BLS is so fond of refuting, but which breathing mortals like you and I face every step of our lives... every day. Only companies that can increase their earnings fast enough to beat inflation will have their stocks bid up. And by the law of large numbers, only small companies can manage to increase their earnings fast enough.