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To: Sig who wrote (8070)	7/6/2002 5:14:03 AM
From: Sig	Respond to of 13815

Direction of Nas: For last two years general direction is down, with money going to the apparently more secure stocks in the Dow and I see no reason that wont continue for a while . Setting 4 new lows and 5 lower highs at roughly 5 month periods Each 5 months the Nas drops around 10% from the value in July of 2000. like -10,-30,-40,-50, to about -60 today. Seem to be at a low now, and with July and Aug generally being good months. Could expect up to 2 months of uppage followed by 3 months of down (The dreaded Sept, Oct period) Up would be around +15% , followed by down to 70% off 2 year high. Busnesses will be consulted by the Feds before new ethics rules are imposed, since neither banks, businesses, or the Fed would want to see swift or major losses in market caps. Perhaps a bit of terror on July8 as to what Pres Bush will say of the 9th. He will powerfully condemn dishonesty as he has already stated, and it seems certain that something will be done to restrain the use of options, along with changes in FTC and SEC rules that will have to occur (politically) to diminish the investing public's wrath. Cant tell if anything specific can be said yet regarding those. With Mr Bush being from Texas, there is no doubt we will hear that SOMETHING IS GOOOOOOING TO BE DONE.( about business ethics) July 8 thru 10 th should be interesting days in the market Good luck on figuring out just what Sig