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Pastimes : From A to Zeev" -- SI Sacks Zeev -- Ignore unavailable to you. Want to Upgrade?

To: Bosco who wrote (618)	5/14/1999 10:07:00 AM
From: Zeev Hed	Read Replies (2) \| Respond to of 708

Bosco, I do not think that it is the beginning of the end, but it sure signal a shift in the "goldilock" economy. Interest rates at 6% are not conducive to a very strong stock market, but on the other hand, it also means that the risk of deflation have disappeared. I am still sticking to my very long range scenario of a few years in a "trading range" of 5000 to 10000, of course, reality is forcing me to raise the top to about 12,500, but the principle is the same. For the balance of this year we may have a tag of war between liquidity, competition from bonds and overvaluation of equities, IMHO. Since I do not expect oil to climb another $6 bucks per barrel in the near future, I think that from here the rise in the CPI will moderate. Zeev