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To: FJV who wrote (50806)	8/26/1998 6:11:00 PM
From: AlanH	Read Replies (1) \| Respond to of 58727

Franco, re:I'll bet we also see an SAR with the SPX holding 1060 at the close, leading to a ST pop. Isn't that what we want? (Maybe wishful thinking.) I get the feeling we are heading toward a bear, although it's too early to proclaim. If so, stair-steps, dinosaur tails or whatever are ideal trading patterns. We'll see. On Russia, it is beyond me how pundits can assert that US markets are immune or abstracted from foreign currency woes. That a "professional" with (presumably) years of specialized education/training could draw such conclusion/s is bizarre. Weren't these the same clowns that correlated US economic prosperity with the end of the Cold War? What now? Such pied pipers should be scorned for misleading simpler (nationalistic) minds. Meanwhile, the Fed is pumping money into the system as if that's a moderate alternative to interest rate manipulation. Have you taken a look at residential construction figures lately? No wonder 'the heads' are so fixated on GDP (er, GNP). On the other hand, not much talk these days about M2/M3; sure, occasionally someone points to 2% per capita savings, but it's a yawn and no mention of disintermediation. Nope, no currency issues here. Well, this is starting to sound like a Blutarsky rant... so I'll stop. Enjoy the evening.