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To: waverider who wrote (5440)	11/17/1998 9:37:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 14427

LOL!!! thanks for the drink.... by now, the bear mkt rally should have done its work... everyone is convinced we're going to new highs (even the bears) after a slight pullback, and dump all gold shares cause they suck. (even I have doubts... as it should be!) but I must disagree w/ the bullish scenario and stick to my guns.... gold is poised to break out SIGNIFICANTLY as the dollar begins its drop that will take the stock and bond mkts with it. Rising L-T interest rates (that was the bond mkt's reaction ot Uncle Al's little orgy this afternoon) do not a bull mkt in stocks make. there should be some sort of news to really get the next decline rockin, but I don't know what it will be (nobody does). As it begins, the "analysts" will blow it off as "just profit taking after a big run" or "healthy pullback" then we'll drop lower, they'll come back out and call it "trading range" then we go LOWER... they lower the trading range, then we CRASH. if this sounds familiar, it is exactly what we went thru from late July to the endd of August when the DOW saw its lows. until then I will add to putws and shorts at current levels and wait. Bought some IBM and more INTC puts today. -Lucretius

To: waverider who wrote (5440)	11/17/1998 10:52:00 PM
From: 007	Read Replies (2) \| Respond to of 14427

Bearish non-event event occurred today. With the dow closing negative after dropping 80 in the final 30, I can only wonder what would have happened if Mr. Greenjeans didn't lower. Today's non-reaction announced a weakening condition. What effect will the cut have on actual fundamentals? Remember the drillers. Focus on the fundies. Where are earnings headed? 007 "Don't fight the fed" says to go long, but ask anyone in Tokyo, some axioms aren't really axioms after all.