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To: Vegas who wrote (460)	2/24/1999 11:55:00 AM
From: Sun Tzu	Respond to of 10768

A wise move. At the rate that we are deteriorating, I expect a repeat of last summer/fall. My main two reasons are that interest rates have moved up a lot and seem to be poised to move even higher (long bond at ~5.6 is likely) and the new high-low cumulative indicator is almost as low as it was last October. What is equally worrisome is that the breadth of SPX has also been falling. In other words it is not just the small caps that are hurting. BTW, have you noticed how little MSFT participates in the rallies? I think the market is just begining to toy with the idea that Microsoft may not be able to retain its monopoly power. ST