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To: The Perfect Hedge who wrote (6136)	12/18/1998 6:56:00 PM
From: Broken_Clock	Respond to of 14427

pei-intl.com

To: The Perfect Hedge who wrote (6136)	12/18/1998 7:39:00 PM
From: 007	Respond to of 14427

I agree Beebs. I think '99 will be disastrous for stocks. However, the large tech stocks' recent action implies higher prices in the interim. We may form the mother of all heads if the other indices break out to new highs like the nasdaq has. AD line, dow theory, new highs new lows all suggest a bear market, but money could flow into a narrow group of large caps and spec stocks until a cold reality slaps them in the face. That may take several months still. There is no investing to be done in this market, only speculation. It's easier to run long with the breakouts, sell when there's risk of a big drop and buy the bottom of panic sell-offs, than to time the drop with puts or shorts. OO7