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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: SJS who wrote (5074)	3/24/1999 2:27:00 PM
From: JRI	Read Replies (1) \| Respond to of 17183

Steve- A couple addons.. $18 oil will not be inflationary...oil would need to get to $25-30 (and stay there) for it to really affect inflation. $18 dollar oil could actually help the markets (helping ease economic pressure in Russia, Brazil, Mexico, Venezuela) while also helping broadening the market (oil stocks, service sector gaining...) I wouldn't look for too broad market participation on any rally up....the focus will continue to be on the top-tier... Point (2) was more concerning the bond market...The bond market will be strong as a result (in April) Serbias are European. They are primary (and see themselves as) Western Europeans...Milosovic's support is not near as great as many think..he can not control information and minds like Saddam....I disagree that his army is vastly superior to Saddam's...it is better, but no match at all for a air battle with NATO. Importantly, Western Europe supports this action (against Serbia). The burgeosis (sp?) in Serbia will not support Milosovic long here, and he needs a strong army to retain power...it is easy to act tough before battle...we will see where things stand in a couple weeks...For everyone's sake, I hope it is a short battle and negotiations happen quickly... There is no chance Greenspan is going to raise rates anytime soon. There is simply no inflation, and he totally gets (believes) the bullish argument concerning technology-implementation leading productivity gains...The Phillips curve is dead for the Fed (right now)... Finally, my comments really were addressing the short-term outlook (and not the rest of the year)....I reserve the right to change my opinion if (1) Oil goes to $25-30 and trend higher (2) World demand picks up enormously in the next 3 months (3) Rubin resigns The odds of these 3 happening are slim to none, IMO...