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To: pressboxjr who wrote (742)	12/15/1998 9:30:00 PM
From: JSB	Respond to of 57584

I agree about news moving the market, JR, but, last week when the NAZ set new highs twice in three days, both days had negative breadth. The question becomes, how sustainable is a narrow base rally? You tell me, what does it say when earnings or value mean little or nothing. How far can the Semis run when income is questionable at best for the next 12 months. I could be way off base (it's happened before and no, I am not short anything) but when 6 or 7 of the DOW 30 have already warned, I don't think you can assume no downside in this market. Regards, JSB PS: Yes, I think there is a huge bubble, a speculative bubble getting larger by the day.