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To: The Ox who wrote (3141)	9/21/1998 12:37:00 PM
From: R. Gates	Read Replies (1) \| Respond to of 14427

IF AG lowers...it may not happen. Regardless, there is nothing left in the WORLD to hold this market up any longer...a few interest rate lowerings won't kick start it on a longer term basis. This is a DEFLATIONARY bear. Lower interest rates are part of it and will only feed into the downward spiral. Look at Japan with rates constantly lowered over the past few years and things are still getting worse. We'll see a bear at least as bad as we saw in 72-73 (during Watergate), probably worse because of rest of the world is also going down so fast. October may have a few upward corrections, but we'll be at 6500 by Halloween and then lower still. LT is right about gold and companies like ASA. It will be good play, for a while... R. Gates