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To: E. Graphs who wrote (25418)	11/9/2002 9:31:15 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 25814

Hi Ms.E: I think the recent rate-cut was a panic move by Greenspan. Poor guy, doesn't know what to do now. He abetted the internet bubble by all the BS about productivity though. Now the chickens are coming home to roost. My feeling is that in a couple of years, his reputation will be in tatters. And yes, there are just too many bulls out there -- in the media, among the investors, among equity strategists etc. People like Abby Cohen are still "honored" guests. Shows that not many lessons have been learnt... My guess is that the S&P 500 will go as low as 500 or even lower before things bottom out. The Dow could get close to 4000 and the Nasdaq maybe as low as 400... In the meantime, there will be plenty of trading opportunities for those who have that skill. Anybody buying and holding, even at these levels, will be toast. The next best thing therefore, is to just sit it out.