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To: Joseph G. who wrote (3976)	8/17/1998 5:34:00 PM
From: yard_man	Read Replies (1) \| Respond to of 86076

>>most of the so called "long term" earnings growth was just return from depressed levels to normal business cycle peak earnings.<< Very good point, but market is beyond even trying to extrapolate earnings now -- lots of participants don't even know what earnings growth means -- they simply look at the silly earnings targets cooked up or adjusted by analysts. Heck -- look at GTW, it missed -- couldn't meet the adjusted expectations -- so its stock got punished for what, all of a few days?