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To: wlheatmoon who wrote (26134)	3/18/1999 4:38:00 PM
From: J. P.	Read Replies (1) \| Respond to of 86076

All right enough of the bullshit about the narrow advance. The Nasdaq has some legs here, the question is why? And for how long? Nasdaq 100 PE is north of 98... Is it the Federal reserve adding liquidity? Is it hoards of cash on the sidelines? Is the economy so good that we can drive the valuations higher than ever? Do we liquidate puts and jump in here an go long for a new high? I'm completely stumped on this, never seen this thing keep running without a correction, unless you call that tiny dip in February a correction....maybe last fall was our great bear market, as Ralph A says. If this sounds like capitulation, I'm pretty goddamn close.