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To: Justa Werkenstiff who wrote (15027)	7/23/1998 4:48:00 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 17305

Justa, Agree. The odds of Greenspan being correct are better than not IMO, with the S&P trading at historic valuations, SEA coming apart at the seams, and corp. profits grinding to a halt. Hopefully we'll see a few more days like today and not one big whammo! That would scare off many investors for some time. BTW, the SOX held up very well today compared with the Dow. For once, the Dow is pacing the retreat downward. Among this group are some of the most overpriced stocks in the universe(KO, G) and a good bleeding is just what the doctor ordered. Although not as pricey as the internUt stocks, they are at lofty valuations, even considering the fact that they have steady earnings. I'll be interested in how KO fares over the coming qtrs., since 80% of its operating income comes from outside the US. They could be poised to take a hit like CA did yesterday, though I don't think it would languish too long. quote.yahoo.com BK BTW, notice how the Bears on the AMAT thread do not come out unless AMAT is falling like a rock? There were very few posts today, most by people other than the regulars. I think you know who I mean<GGG>

To: Justa Werkenstiff who wrote (15027)	7/23/1998 6:41:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 17305

<. Give it ten days and we all will have forgotten Greenspan's words. > Perhaps. But will something else take it's place? I don't argue that the market cannot rebound -- perhaps tomorrow. Have the highs been put in? Perhaps not. But there are serious technical problems in the broad market and these problems cannot be ignored. There was a technical break in the spoo at 79 then 58. The Cash is weak but now resting on support from a few months ago. The psychological break of the DJIA at 9,000 is difficult for the buy the dip crowd to grasp. Damn. I have to drop the kids off at a movie. Sorry, cannot finish my diatribe at this point.