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To: James F. Hopkins who wrote (43828)	5/23/1998 8:04:00 PM
From: Lee	Read Replies (1) \| Respond to of 58727

Hi Jim,..Re:<< It's not tied so closely in most cases it can be 4 to 6 months or more before the effects come home,>> I agree and from the looks of the daily June S&P we have maybe a week to reach the apex. Also, based on the most recent API report, we've a huge supply problem right now. barchart.com api.org I also strongly agree that the dollar is the critical variable right now, both because of the EMU and also because of our increasing trade deficit. The constant rumors about the Bundesbank raising short term rates has a lot to do with the current politics surrounding the EMU. Regards, Lee forgot to add the $index tfc-charts.w2d.com