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To: Thean who wrote (2617)	9/7/1998 6:56:00 PM
From: R. Gates	Respond to of 14427

No, of course I don't expect the rebound to 8200 all in one day, but from 5 to 7 trading days (by 10 trading days I think the next leg of the bear will start). If Impeachment of BC becomes a probability, it will only add some fuel to the fire. A lot of my associates still don't think that a true bear market can EVER happen again. "Just too much money pouring into the market" they say. That tells me loads about how down we will go. They still are dollar cost averaging into their 401Ks stock funds and believe we've just had a little correction. I think this is still the sentiment among most of mainstreet USA. The next leg of the Bear will change the confidence to the next stage of emotion from denial to anger. After that you'll see folks "bargaining", saying things like, "o.k., so it is a bear market, but it will come back very soon." After they see it's not coming back real soon, depression will set in and then finally acceptance. We are in the very early stages here of a Great Bear Market. We have a long way to go...a lot of ups and bigger downs on the way down... R. Gates