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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (35882)	12/31/1998 8:57:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 94695

Hi Jim: Happy New Year, everybody.. last one before the big 00 in the sky... I'm sitting here doing tax stuff too. Yuck. Most of the runup in the smallcaps has been speculative drivel. But yesterday and today I saw money moving into some of my high-quality Russell stuff...so maybe we will have a nice run. The market cap of msft and Ge buys the whole russell 2000...so it won't take much to make a rocket ship out of them. I figure when this melts down there will be a panic run to anything that looks like secure yield..should move the REITs and utilities up. Hard to tell about the midcap..they had to reconstitute the mid400 because of AOL. But the 400 is a bloated beast as much as the lc 500. I wish I had the intestinal fortitude to play the mo-mo stocks...this is not a fun market for value investors. I feel like I'm watching the decline and fall of U.S. civilization. How oh how is Greenspan going to keep this from turning into hyperinflation? SPY is the currency of the realm. The world is swimming in bad debt..the banks don't WANT the bad debt to be repaid, or go under; they just want to have it eternally refinanced at ever lower interest rates to keep the Ponzi scheme alive. Curious for me to see that my house value and the real market value of gold keeps up with the S&P. Local gold broker tells me he's never done more business, Asians and European locals turn their paychecks into gold coins rather than leave them in U.S. dollars. Mr Market has to drive treasuries down to 3% in 1999 to keep the market propped up. We'll see.