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Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: JHR who wrote (4548)	10/22/1998 6:47:00 PM
From: tdl4138	Read Replies (2) \| Respond to of 14427

Does anyone else feel that this "rally" is making them nervous... I'm glad the oil/service stocks are finally moving...but the fundamentals aren't there to support them...crude is trending down... Earnings are flat on lowered estimates (except RIG)yet these stks are really rocking...dayrates are still falling...e/p budgets are still being cut... Bankers Trust didn't miss their number...they got buried...and the stock was up? Simply doesn't make sense. So what if there's a rumour of a buyout...when they get done with the losses and restructuring charges...guaranteeing a loss next quarter...what will their "book value" be then? Even the CEO stated they want to remain "independent"..why would Deutshe Bank (or any other bank)want all their problems... Just because Greenspan lowered a 1/4 point...eurphoria has taken over...the perception of the global economies has changed....and all is well...I can't buy it...it doesn't make sense...This market seems ripe for a collapse...but it will take an "event" to pull the trigger. Just as a well timed FED easing was an "event"...something just as ludicrous will swing the pendulum back the other way.