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To: Ramsey Su who wrote (20417)	6/15/1998 6:55:00 PM
From: John Chen	Respond to of 70976

Ramsey,re:"cheer up..". Sorry, no can do. Good news is that Chinese are not to blame for Global warming (ie: too many warm bodies), "scientist(s)??how many" concluded that it is caused by "the SUN". I wouldn't have guessed that. Also, during this global melt-down, U.S is the right place to hide. lead by our 'teflon-coated president', nothing bad will stick to U.S. Just keep buying on the dip(not investment advice, just hearsay).

To: Ramsey Su who wrote (20417)	6/15/1998 11:14:00 PM
From: dougjn	Read Replies (1) \| Respond to of 70976

While I think this correction may well have a ways to go, I think you are being way, way too pessimistic re: U.S. markets. The one thing that could really cause a worldwide deep panic selling is a wholesale collapse of the Japanese banking system. Ironically, the very factors that have kept Japan from moving past its bad loan problems in its banking system are very, very likely to prevent any sudden, wholesale and contagious collapse. The system is too government controlled and propped up for that to happen. But the Japanese recession could of course worsen for a time, and several of their large banks can, and probably will, be allowed to fail in the immediate future. It just won't spread like wildfire. Although it will no doubt shock the markets for a bit. A slowdown in profits in the absence of a U.S. credit collapse recession/depression (the 30s, the 1890s, the 1905 period) and while interest rates are low and not sharply rising, is very unlikely to lead to a severe market collapse. The severe, but very short 1987 collapse was trigger by SHARPLY rising interest rates. Which occurred in a very high deficit, sharply rising corp. debt environment which triggered creditable fears of both sharply rising inflation and a credit collapse. We are in a vastly healthier environment today. Which is reflected in sky high large cap index stock prices, of course. I think more than another 10% in the S&P and Dow is very unlikely. And it is also entirely possible that it doesn't go too much lower from here, in my view. But certainly today was not a correction climax. Doug

To: Ramsey Su who wrote (20417)	6/17/1998 9:03:00 AM
From: MileHigh	Read Replies (1) \| Respond to of 70976

Hello thread, I noticed this from a poster... I wish I can be as optimistic on the scope of the correction. The concern I have now is a total meltdown type correction. Growth fuels growth and vice versa. We may be facing "vice versa". Folks, you DO NOT have a total meltdown with the long bond trading at historic lows. Here we go again this morning, S&P and NAZ futures up strongly and a huge bounce yesterday in NAZ. Again, buy on the dip mentality wins again...I also believe that because we have seen a "meltdown" in the semi equip stocks lately, some people on this thread believe (or hope <g>) that this meltdown will transfer over to the large caps, I don't see it. Remember, KO was over valued at $48 last fall, hell, they just cut their numbers yesterday and it barely reacted... Again, if we go lower, we drift lower, IMHO, we do not correct massively with long bond at 5.65%. Probably back up today!! MileHigh