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To: Lucretius who wrote (7196)	2/7/1999 2:03:00 PM
From: R. Gates	Read Replies (1) \| Respond to of 14427

Anyone looking at this chart:http://decisionpoint.com/DailyCharts/Current1ema.html and understanding it's implications can hopefully see that the market has been living on borrowed time since last year. This time was borrowed from Alan Greenspan. Had he not stepped in last year with the 3 cuts in a row, we would be in a more realistic market (i.e, 7000 on the Dow or lower right now). The advance/decline line has been pointing down for over a year but the tulip mania continued. This will be one of the most important weeks of the year for the market, IMO. If we see a rally eventually fail, and I suspect it will, and the market turn back downward, then this "borrowed" correction to an inevitable Bear market is over. This time AG will let the market slide to where it belongs. He's had time to make sure his nieces and nephews have all got their money out of the market. The number of IPO's peaked last week, to the greatest number since the last week of July 1998, and we all know what followed that week... R. Gates