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To: Lucretius who wrote (36188)	4/25/1999 10:54:00 PM
From: Moominoid	Respond to of 86076

moderate pace? what mkt are you watching and sniffing? -g- Everything is relative. It is going up at about the average pace for the 95 to date bull market. Slower than the acceleration out of the October bottom or even last Spring's rally. The variance relative to the rate of growth is much higher than in those periods. Using my simple TA models those factors make the rally much more sustainable than than say Spring 98. This is of course purely in a statistical time series sense nothing to do with fundamentals <g>. Fundamentals do look strong though on historical estimates of the equity risk premium these P/Es are way too high even given interest rates being where they are and assuming that earnings reports are not inflated <g>. Maybe the lowered risk premium will reverse but I'd guess it'd take a worsening US economy for that to happen. David