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To: GST who wrote (123517)	4/11/2001 6:51:59 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 164684

i believe we will see several 'false dawns' as the supercycle bear progresses. in the late 60's, when the orthodox top (i.e. the point from which money market funds began to outperform stocks) occurred, the market managed to rally back to marginal new highs after the initial '68/'69 decline, on a seeming improvement in economic conditions. the current bust is of course somewhat different , as it is due to industrial overcapacities and a huge debt overhang. the '70's secular bear was an inflationary supercycle bear...ultimately a different, and easier to overcome beast. not that it didn't take long enough...