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To: marginmike who wrote (94187)	2/22/2001 10:18:36 AM
From: Keith Feral	Respond to of 152472

I agree with your point about another down leg in the market. We are in the middle of it right now. Hopefully, we are near the end. In this kind of environment, I won't buy a stock until it is making new lows. Most of the big cap techs are now trading with PEG ratios near 1 - not a bad risk to reward measure. It is always better to buy stocks in the midst of these "crisis" situations. This routing in the NASDAQ is increasing the probability of another 50 basis point cut by the FED. Right now it's around 70%. I'm focused on 3 consecutive 50 basis point rate cuts as being a sufficient catalyst to engineer some stability in the market.