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To: Amy J who wrote (169410)	8/14/2002 5:50:59 PM
From: Road Walker	Respond to of 186894

Amy, re: Anyone know why the market is up today? Hard to say, Amy. They said on CNBC that someone moved $5B from bonds to stocks (maybe Kap?). That might have encouraged short covering. With all the volatility, the market looks like it's trying to form a bottom. At the least the bears are not getting their way 100% of time anymore. Usually at bottoms you get a retest of the lows, but who knows. And you have options expiration week, a time for shenanigans. John

To: Amy J who wrote (169410)	8/14/2002 11:12:51 PM
From: Joey Smith	Respond to of 186894

Amy re:Anyone know why the market is up today? There might be some anecdotal evidence that IT spending is picking up. Joey

To: Amy J who wrote (169410)	8/15/2002 7:59:14 AM
From: GVTucker	Read Replies (2) \| Respond to of 186894

Amy, RE: If US engages war with Iraq, what's the estimated percent drop that could occur? (Someone had previously said Desert Storm resulted in a 10% to 15% drop.) Oh, on the contrary, the market rallied strongly when we attacked in Desert Storm. It had dropped 10-15% in the 6 months prior to Desert Storm, after Iraq invaded Kuwait, but after we attacked, the market rallied strongly. We haven't seen pre-Desert Storm prices since. More importantly, I have no real idea where the market might go if/when we attack Iraq, but given that most people already expect that such a move is inevitable, I suspect that the reaction will probably be smaller than most think. (The best indicator to me that everyone already expects an attack is the recent price action of crude. The economy appears to weaken, natural gas prices are dropping, and yet crude prices have stayed strong.) Now if we come out and say that we're not going to attack Iraq, that we've been able to remove Saddam H through peaceful means, now that could get a real rally going.