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To: Hawkmoon who wrote (27506)	2/1/1999 7:54:00 PM
From: PaulM	Respond to of 116762

"Noticeably absent...is money to purchase more crude oil for the...Strategic Petroleum Reserve" biz.yahoo.com

To: Hawkmoon who wrote (27506)	2/1/1999 8:57:00 PM
From: John D. McClure	Read Replies (2) \| Respond to of 116762

"People widely recognize that Internut stocks are overvalued and are primarily the Las Vegas of the stock market where people gamble, not invest." When, and I mean WHEN all those bloated market caps for the Internet stocks melt away, can't you envision-just for a moment-that the loss of all those BILLIONS in paper profits will cause a financial and psychological shock wave that could well reverberate through the markets and cause a chain-reaction meltdown? I heard that the P/E for the market IN GENERAL is in the low 30's-nosebleed territory. Pardon the mixed metaphors, but my take is that the Internet mania is just the icing on the cake of a wider house of cards. One can't discount the danger posed by one segment of the market as a possible "last straw".

To: Hawkmoon who wrote (27506)	2/1/1999 9:37:00 PM
From: Mark Bartlett	Read Replies (1) \| Respond to of 116762

Ron, <<Internet casino stocks do not threaten the US economy. The way to deal with them is through hiking Margin requirement, which many brokerages are doing.>> With all due respect, the capitalization of some of these stocks is insane ...... a total failure of that group would be painful. Also ... perhaps the way to deal with the gold issue, is to make leasing rates much high. Seems to me it is the easy access to gold as an asset to be leveraged that has created some of this mess. MB