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To: Crimson Ghost who wrote (42509)	4/17/1999 8:20:00 PM
From: BigBull	Read Replies (2) \| Respond to of 95453

Thanks George, it's a bit early for the Bull to throw confetti in the air and declare victory, but I'm workin on it! We'll have our answer in the next three weeks, towards the closing of earnings seasons. The one bullish event that has me totally shocked and stunned is the speed and magnitude of the Latam bourses recovery. The moves of these Latin Indices has been so sharp and so broad that it has made even ole frothing at the mouth, mad dog, BigBulls jaw drop in astonishment. Never thought it would happen THIS fast. Never! With, Asia, Latam, and to a lesser extent Europe now in full recovery mode, I won't even take a guess as to where oil will be in the fall. Just think, George, just yesterday, we got within spittin' distance ($17.46) of 18 DOLLARS A BARREL! I'm start to think like Doug Fant here - maybe OPEC cuts were unnecessary? OK - no cat calls or razberries from the peanut gallery please. The Plays the thing - The Death and Ressurection of the PATCH Act 1 - now concluded. OPEC and US production cuts were the stars. Act 2 - curtain rising OPEC compliance at the start, rapidly segues to Global Boom Chorus. Act 3 - Late Summer early fall OPEC retires to the dressing room for good, Global Boom Chorus is absolute center stage and she's singin' "Hallelujah, Hallelujah, H A L L E L U J A H!!!!!!!!" The Wall Street Whore of Babylon finally appears on the scene spinning tales of fabuluous wealth and singing glory on the highest to the patch. The true believers then sadly turn their heads from what they know is inevitable. Judgement day arrives, The Wall Street Whore is revealed for who she is, but is allowed to ply her evil ways for another thousand years, so as to instruct the simpleminded and the innocent. I leave the epilogue to you. I hope you are there for the curtain calls, cause I will be. Looking forward to seeing you in the White Hot Spotlight.

To: Crimson Ghost who wrote (42509)	4/17/1999 9:33:00 PM
From: stan s.	Respond to of 95453

SMALL CAP INVESTORS SMELL A RALLY By David Callaway, CBS MarketWatch Last Update: 11:27 AM ET Apr 17, 1999 Socks to Watch SAN FRANCISCO (CBS.MW) -- Nobody's saying it too loudly, because they don't want to jinx it. But some fund managers smell a rally in the long-beleaguered market for small-cap stocks. After five years of watching the big-cap, blue-chip stocks such as Gillette (g: news, msgs) and IBM (ibm: news, msgs) dominate the market, and following several false starts, small-cap stocks posted one of their strongest performances in months last week, with the Russell 2000 index rising 3.9 percent to its highest level since early February. "The long-awaited small-cap rally has started,'' said Stephen Janachowski of Brouwer & Janachowski, a Tiburon, Calif.-based fund consultant. "All the classic signs of the end of a long bear market are there.'' Janachowski pointed to a surge in redemptions of small-cap funds in the last few months, which he said indicates that investors -- and even some small-cap fund managers -- grew so depressed about the performance of small stocks in the last few years that the market may finally have bottomed out. The average small-cap fund was down 3.25 percent this year through April 14 and down more than 14 percent in the last 12 months, according to Morningstar Inc., the Chicago-based fund researcher. These performances came as the Dow Jones Industrial Average soared ever higher toward (and then above) 10,000 and as the Standard & Poor's 500 index notched a 27 percent gain last year. Some have managed to claw their way out of the red, however, by investing in either middle-cap shares or small technology companies that could take advantage of the Internet craze on Wall Street. Among those are the Van Wagoner Post-Venture Fund (VWPVX), up 73 percent this year through April 14; the Van Wagoner Micro-Cap Fund (VWMCX), up 48 percent; and the Robertson Stephens Emerging Growth Fund A shares (RSEGX), up 40 percent, according to Morningstar. About time Raiford Garrabrant, an analyst with Van Wagoner who focuses on the Micro-Cap Fund, said it's been boosted by emerging-growth stocks such as Concentric Networks (cncx: news, msgs), TeleBank Financial (tbfc: news, msgs) and SDL Communications (sdli: news, msgs). "Over the last six months, we've seen the market at least warm up on these types of stocks,'' said Garrabrant. "As much as small-cap stocks have underperformed over the past few years, it's certainly their turn. Whether that was this week is hard to tell.'' Garrabrant said that a few times since 1994, when the Russell 2000 last outperformed the S&P 500 stock index, small stocks have had mini-rallies that have lasted a few weeks or even up to a couple of months. This time, though, he says the difference in values between stocks of small and large companies has grown so wide that it almost certainly has to come down soon. The only thing that could stop it: a big decline in the entire market, which would take all stocks down with it, he said. "If the market as a whole goes down from here, I don't expect small caps to outperform,'' Garrabrant said. "Looking out over the next 12 months, though, I would expect small caps to do better.'' David Callaway is managing editor for news at CBS MarketWatch.