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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (41026)	5/14/1999 12:11:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 86076

Still no word from Earlie. I hope he publishes soon and returns to posting.

To: MythMan who wrote (41026)	5/14/1999 1:34:00 PM
From: John Pitera	Respond to of 86076

the non-dairy creamer is saying that the mkt is too high here w/ 6% rates.... Optimism Doesn't Count in This Tape By James J. Cramer 5/14/99 11:22 AM ET OK, enough Pollyanna talk. I would not trust any rally from these levels. With the SPX at its highs yesterday and the Dow perched near 11,000, we really don't have any room for the bonds trading at 6% When the big-time strategists, the honchos who call the shots at places like Morgan Stanley (MWD:NYSE) and Merrill (MER:NYSE) et al., come to work Monday, they are going to savage this market. They are going to say, "Get out, interest rates are too high, wait for them to come down." They will be staring the Fed in the face Monday (before the Tuesday meeting), and nobody is going to stick up for this market, not here. I am hiding in the cyclicals, but believe me, we can't put a good face on these numbers. We are anticipating that the Big Think analysts will bring out their hatchets Monday, and we don't want to be pole-axed. On strength, we are lightening up on anything remotely interest-rate sensitive, and I am including more than just banks. Anything. Come Tuesday afternoon, these stocks will be lower. Period. End of story.