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To: Dale J. who wrote (66055)	10/8/1998 1:33:00 PM
From: Dale J.	Respond to of 186894

In a research report, Cohen said, "We expect stock prices to reach new high levels during 1999." On Oct. 5, Cohen, one of Wall Street's noted bulls, said in a speech to the National Association for Business Economics: "At today's stock prices, we think the S&P 500 is moderately undervalued based on our view for 1999. We believe that corporate bonds are undervalued relative to U.S. treasuries based on our view for 1999." In that speech, Cohen said her team thought the stock market was "roughly at fair value" this summer, but she said after stock prices "significantly declined" she believed the undervaluation that had marked stock prices in the early 1990s had been re-established. She said the team thought the stock price decline had caused a 12- to 15-percent undervaluation in the Standard and Poor's stock index. "And we still believe that to be the case," she said

To: Dale J. who wrote (66055)	10/9/1998 12:41:00 AM
From: John O'Neill	Respond to of 186894

>> But remember you don't get the cash until you cover. I think the market will soon bottom out. << I agree, am out of shorts positions. INTC amazes me.... it seems to be immune..I like this as I am long several stocks in the tech sector (i.e. ADIC, QWST) & hope INTC leads them higher. I'm looking for a sharp rally in the near future...today may have been the selling climax...given the fact we've had many down days in a row (new to this bull) with a big down today on volume. Paul Engle may get out of this one with his shirt after all!! JO