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To: yard_man who wrote (535)	12/15/1997 12:20:00 PM
From: Don Earl	Respond to of 686

Hi Barry, Yep, everything is looking too early these days. Techs are getting hit again, I'm guessing on Nov manufacturing numbers coming in high and the FED meeting tomorrow. The part I don't quite understand is that the increases are evidently in auto manufacturing and computers. Wouldn't that be a normal business cycle with Christmas buying and model year changes? I don't follow the reasoning that areas that should be up are an indication of inflation. The same with the new job numbers last week. November is always the time of year when retail stores hire just about any warm body capable of filling out a job application. What does that have to do with inflation? If manufacturing is up then earnings should be up and the stock should go up. Or is my reasoning too straight line? The bottom should be down there some place but right now it's like walking down stairs in the dark. I think it's shorting pressure more than selling pressure that is pushing the market down, which should correct fairly quickly when it bottoms out, but support levels are falling apart on a daily basis. Where's the bottom? Regards, Don