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To: gbh who wrote (48653)	6/13/1998 5:39:00 PM
From: TideGlider	Read Replies (2) \| Respond to of 61433

We have a near communist president.... I do believe his admin want to rape anything with big bucks. INTC, MSFT, Tobacco anywhere. Facts are facts. The index funds are numerous and the S&P is a standard. As money comes in funds it goes to index stocks and creates a consistent influx of share purchases. JMO TG

To: gbh who wrote (48653)	6/13/1998 9:30:00 PM
From: Knighty Tin	Read Replies (3) \| Respond to of 61433

Gary, The other 86% of purchases come from people who are closing out their bank CDs because the market always goes up, or who have just inherited money, or who have just been paid. It isn't fixed and it sure isn't permanent. Ah, but there will be a time when buying the dip doesn't work. The same was true in the late 1960s and early 1970s, then 1974 hit and it didn't work any more. My feeling about the Dow is that fair value is around 4500, which is about average pe ratio for earnings if they were honestly reported. However, just as we go far beyond fair value on the upside, we will go far beyond it on the down side. Ours is a neurotic market. I doubt if there will be a commie president, but brokers hung from lampposts is a distinct possibility. <G> MB