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To: MichaelW who wrote (51740)	7/16/1998 4:15:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

On old rules and 'stealth' correction. [damn we are only up 1 7/8th for the day (gg)] Michael: I think the markets are always correcting itself it might be all that apparent from the outside. As an example all we have to do is look at the major indexes which have been robust to say the least but if you look at some the segments in the industry you can see many didn't do very well. Case in Point 1) Semi-equipment manufactures- some of the corrected 30-40% or more. 2) Semiconductor- didn't do all that well 3) Oil & related industry of late. Let us call it a 'stealth' [not mine read that somewhere]correction,smilarly the 'stealth correction' is always going on irrespective of the major indexes whether it is a bull market or a bear market. Conversely many segments do well even in a bear market too. What the 'old-timers' want to see is clear delineation between a bull & bear market and there is a good chance that they may not find it in this new world economy at least for a long time. So all I am saying is there is 'correction' going on all the time and it may be industry specific or company specific and we may not see a pure Bull Market or a pure Bear market per se for a long time to come irrespective of what some pundits would have us believe. Of course you do realize I could be completely of base here,but this is my story and I am sticking with it.<gg>