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To: Les H who wrote (8055)	7/9/2003 11:28:45 AM
From: Return to Sender	Read Replies (1) \| Respond to of 29608

Absolutely true Les it could be nothing more than a short term pullback. There are a lot of good things we can say about the technical state of this market. However when you take into account longer term sentiment indicators we are far too bullish still. A small dip will likely not correct that situation. That may not matter if earnings and outlooks are strong enough to support the high valuations we currently have in the market? Will they be that good? RtS