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To: The Vinman who wrote (30711)	3/18/1998 5:43:00 PM
From: BSGrinder	Respond to of 53903

Good point. CNBC's "is the tech slump over?" got me thinking: The compression of time in the prevailing view of the market is phenomenal. If the market is down for three days, it is called a correction. If a stock pulls back for a day following bad news, and then moves up again for a few days, analysts talk about the bad news having been "discounted" - even though the stock is at a higher price than when the bad news was announced! None of this makes any sense unless there is an underlying assumption that stocks must go up; that bad news and a lower price is just a temporary phenomenon called a "buying opportunity." It will be interesting to see what happens when some of this bad news doesn't go away - how many descending points on a graph are required before someone connects the dots and notices that the line is sloping down? /Kit