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To: Les H who wrote (8948)	10/22/2003 8:55:54 PM
From: Les H	Respond to of 29602

Tag sale on Wall Street nydailynews.com

To: Les H who wrote (8948)	10/23/2003 1:18:34 AM
From: Abner Hosmer	Read Replies (1) \| Respond to of 29602

Les, thanks very much for digging up this report and posting it. I think there is some important information in there. David Rosenberg over at Merrill Lynch (Chief Economist) has been doing an excellent job of picking apart the economic data over these last months, and this report basically corroborates some of his major thesis: corporate profit growth has peaked for this cycle, jobs are still being lost, wages stagnating, and we are going to slow down in Q4. Whether stocks are priced for that or not, we may find out fairly quickly, if the "confidence" starts draining from the confidence game. Hosmer