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To: Ross Roberts who wrote (30108)	5/17/1999 12:23:00 AM
From: Ibexx	Read Replies (3) \| Respond to of 152472

Hello Ross, Re. What's your take on the outlook for the markets (especially the techs) over the next few weeks given the CPI data released Friday ? My own feeling is that the market overreacted to the CPI number on Friday -- the hourly earnings were declining, producer prices were benign, and retail sales were quite moderate. For the majority of stocks, Friday was not a day of capitulation; rather, it looked more like profit-taking and some position squaring ahead of the weekend, textbook style. No one can predict short-term actions with consistent accuracy, but I am willing to bet it would be unlikely for the Fed to pull a rate hike until sometime in August. Ibexx