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To: Jorj X Mckie who wrote (503)	8/29/2001 6:13:25 PM
From: AugustWest	Respond to of 582

I believe that your memory is good... That's a first!<GGG> But we're thinking along the same lines then. Fed was just begining their cutting in the face of the Japan crisis. Japan hit a 17 year low last night. it seems like things may be more muted if the market does turn around. And it seems that even the whacking that has taken place in the COMP over the last 18 months has been muted- just slow bleeding(sucking in more bottom fishers). Meaning that there really hasn't been any meaningful capitulation. We discussed this a number of months ago. The notion that it might just be a painful winding down. But fact is that a lot of stocks are still sporting huge valuations, and the GDP while not negative, is rather paltry. It's like instead of giving anyone a clear cut, "we're in a recession" it's gonna drag it out for a number of quarters. Damn, I like myself better when I don't think so much!

To: Jorj X Mckie who wrote (503)	8/30/2001 2:18:10 PM
From: AugustWest	Read Replies (1) \| Respond to of 582

Grub<GGG> Okay. Actually, today is going about how I figured( I was gonna put in a WAG at at 1796). But I think the bears are just toying with the small money that is hanging around. Tomorrow might be more of the same. Real question is what will happen after the Holiday when volume(assumingly) picks up. Might even buy a little more EMC with the notion of a bounce on Tuesday, but I still have room there as I'm only out a buck. I haven't sold my EMC yet. Nor have I covered my PHM- actually I almost averaged down in PHM this morning, but chickened out.