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To: waverider who wrote (21131)	5/2/1998 12:48:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 95453

That was just off the top of my head, there's more. Trust me. As for earnings. tech and the multinationals have lead this mkt. their Earnings are in decline, period. MSFT (the big daddy of theem all) even came out a couple weeks ago and said "hey guys, this will be the best qtr of the yr and we see things slowing dramatically for the rest of the yr. No word on when they will turn around." IBM's earnings were down yr over yr, yet idiots went out and bid the stock up??? Even some of the drugs are starting to have problems. Keep your eye on the financials. MER, CCI, etc. They show the health of the mkts. Take a look at this nice little head and shoulders that appears to be forming on MER 207.95.154.130 Then look at the banking index: 207.95.154.130 I am of course speculating. These head and shoulders patterns have no confirmation yet cause the right shoulder has not rolled over, but if you do see it and they break the neckline. WATCH OUT! We will probably make one last mad dash for new highs, but the breadth will be narrow. We are very close to a blowofff top and later a crash. The big bad bear is on his way. Don't get in the way. Buy gold and the XAU. BTW-- as for cash on the sidelines..... there is not as much as people think. Check out AMG Data's site. Note that inflows topped out about a month ago. We had net outflows this week for the 1st time in a long time. Then look at the money mkt levels.... they're almost nill. There ain't as much cash out there as people think. Most mutual fund positions are leveraged on top of that. It is going to get BAD. - I forgot to add another bear warning: Foreigners are historically last to the party. Well, they've been pouring in over the last 4 months. check out the stats! -Lucretius