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To: HerbVic who wrote (18723)	9/30/1998 11:49:00 AM
From: Alomex	Read Replies (1) \| Respond to of 213182

A few weeks back there was a discussion here about whether the market had "to pay back" its current valuation. One person argued that it had, as the latest run was unprecedented while the other side pointed out the long bear market just before the bull run. Forbes has a chart to that effect, and indeed most of the bull run is "paid for" the last bear market. A 15% correction would place the DJI back in line with historical valuations. IMHO the likeliest scenario is that the dow will drop to the mid 7000's in the near future and then move sideways for a while until valuation gets back to historical levels, but, really, who knows?