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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (13066)	1/14/1998 7:06:00 AM
From: Tommaso	Read Replies (2) \| Respond to of 18056

It does not take a whole lot of extra cash to drive the market higher--just a persistent demand for US securities. Last year about April or so I got into an altercation with Joseph G. who was calling for a Dow of under 1000. At that time, although already deeply bearish myself, I did ask, "What if investors just keep deositing savings into 403b funds and buying mutual funds with them." I did not want that to happen, but that is what went on. I am now concerned a "Fortress America" mentality may keep enough money coming in here to create enough demand to send the market up to 9,000 before it finally deflates. I confess that my graphic model for this is the last spike of the 1929 market, which went through a protracted period of volatilitiy such as we have just seen before it shot up to its final climax. I am not going to change my investment plans, but I am trying to be mentally ready in case I have to put up with continued madness in the markets (on the up side). I view this market as a mental patient that is very hard to manage.