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To: pater tenebrarum who wrote (103035)	5/17/2001 4:30:38 PM
From: steve susko	Read Replies (1) \| Respond to of 436258

ya, this market is moving on pure technical, been moving up off the triple bottom and now reaching triple top. Are you in RRC? and holding?

To: pater tenebrarum who wrote (103035)	5/17/2001 4:30:47 PM
From: Crimson Ghost	Read Replies (3) \| Respond to of 436258

Greenspan made perhaps his most outrageous statement ever recently. He opposes proposals to increase the $100,000 limit on FDIC deposit insurance because it would allegedly provide an unjustified subsidy to upper income people. This from the bubbelonian who has done more to make the financial elite ever richer than anyone else in history. Not to mention the fact that most people who have $100,000 in a bank account are far from rich. Many are retirees heavily dependent on interest income to sustain a modest middle class life style. Could it be that Greenie sees a real risk of bank failures down the road?

To: pater tenebrarum who wrote (103035)	5/17/2001 4:41:09 PM
From: RocketMan	Read Replies (1) \| Respond to of 436258

I wonder how much of the market's action is the Index effect? Vanguard's Index 500 by itself has 75B in assets, and a stream of buy and hold mindless money pouring in every month that has to follow that index. Multiply that by dozens of other index holdings, that pay no mind to valuation, and you have the fuel for indices that go up regardless of fundamentals. Following this money flow are the traders, who pile on when the mo is going their way, or pull out when reverses happen, which gives us the volatility we've seen. When enough trader money pours out, you get the reverse index effect we had a couple of months ago, and even some net outflows, but unless and until there is panic in the streets the major indices will flourish. I don't count the Dung as a major index, that is primarily a trader's index without enough institutional indexing, so when it goes it dumps big. We don't care p/e anymore, indices are blind to p/e.