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To: Paxb2u who wrote (53867)	9/25/1998 1:23:00 PM
From: Trey McAtee	Read Replies (1) \| Respond to of 58727

peter-- tulip mania ring a bell for you? its just this...buy the dip still is a widely followed philosophy. we have to break down below 7400 for that to lose validity. plus...there is still the interest rate crap. the only way we are going to get a rally off of a rate cut is if its 75-100 basis points. anything less, and its priced in for a sell off. I am the most impatient person here...at least i think so. it is killing me to sit on this, but i know that whats going to happen is a lot worse than anyone now thinks. some here may feel don and others are negative. compared to me, they are positively optomistic.thus, i may not be the best person to ask about this. part of the problem with the 20's market was 10:1 leverage. that was supposed to have ended, but it just moved to hedge funds. the scary thing is, LTC isnt the biggest. good luck to all, trey

To: Paxb2u who wrote (53867)	9/25/1998 1:53:00 PM
From: AlanH	Respond to of 58727

Peter, re:cognitive dissonance Can some one explain why anyone is buying into this market??? Dunno... Perhaps, a raging battle for ever-increasing returns where competitive vehicles are perceived inferior (based on a 10-year snapshot), and risk is a relative term based on the neighbor's performance? IMO central banks are adding liquidity to avert economic disaster. And, wouldn't you know it, capital is flowing back into the most speculative places. Not to be redundant, here's a post from BK: siliconinvestor.com OTOH, there seems to be a perverse apathy toward the schemes and swindles of the market. Everyone openly admits that thievery is in play, yet no one steps away from the table. To rationalize participation, people spout P/E's (debating forward v. trailing), productivity curves, manufacturing models, blah, blah, blah. Look at the internets... SEC announces an investigation and i-nuts soar: AMZN +5.7%, LCOS +3.5%, AOL +2.8%, YHOO +2.5%... and that's down from the day's highs. (On Tuesday, AMZN and LCOS were up 20% in one day.) Cheers, Alan