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To: waverider who wrote (5248)	11/10/1998 9:10:00 PM
From: Broken_Clock	Respond to of 14427

Diamond....I would want to run those projections by Mike Burke. he predicted this pre-Christmas scenario two months ago.

To: waverider who wrote (5248)	11/10/1998 9:13:00 PM
From: Lucretius	Respond to of 14427

Remember the key to a crash... when she begins... most are surprised. the stock mkt is dependent on the US consumer (as is the whole world economy) The consumer is dependent upon the US stock mkt. one will break first... this is not a perpetual motion machine. the mkt will break first if history is any guide and the US consumer will follow. That's how you get statements from Herbert Hoover after the crash saying "The economy is strong." I expect the same thing from Bill Clinton in a few weeks.

To: waverider who wrote (5248)	11/10/1998 10:37:00 PM
From: 007	Respond to of 14427

Diamond, I agree with you that this is no time to be short. But I agree with Luc that the market could begin dropping at anytime, so I am ready to short at a moment's notice. Intel or not, even tomorrow afternoon could be the beginning. Large caps, and in particular, financials are having difficulty going any higher. I also agree that this is no time to initiate long positions, and if I were already long, I'd be very happily selling half right now. This is not a healthy bull market, but instead some combination of bear market rally and Bubblemania. The money supply is growing at very high rates, and a big chunk of that must be going into the market. After consolidating down to very little volume, gold showed some bullish action this afternoon and closed up .80. I wouldn't give up on gold so quickly, but the XAU did have a very bearish close. Any weakness in the metal tomorrow could create some ugliness. I wouldn't want to see the XAU go below 76. A close above 295.5 for dec gold would be very bullish. Not that it means much, but dec gold is up .30 from the close at 294.5. 007