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To: stockman_scott who wrote (128695)	5/25/1999 11:28:00 PM
From: PAL	Read Replies (2) \| Respond to of 176387

Scott, 11:17pm Globex is still positive. NSDQ100 is still up 8 1/2 points; everyone reading this post is still vertical, the storm will pass as well. Dan Niles favorite stock is MU, so his influence is diminishing. Just like Elaine Gazerelli. She correctly called the 1987 crash.15 minute fame. Where is she now? No factor. I am sending everyone a Happy Meal: mcdonalds.com enjoy!! Paul

To: stockman_scott who wrote (128695)	5/26/1999 1:26:00 AM
From: TTOSBT	Read Replies (1) \| Respond to of 176387

Re: "The IRRATIONAL FEAR" Great line! IMO here is why the markets are quitting on us At the first sign of CPI increases caused by non-inflationary events, I.E. Energy OPEC quota's lowered -which history shows never last very long, and tobacco increase for lawsuit coverage, Greenspan started talking about "Things can't last forever" at key address meeting before the May FOMC meeting. Then at the meeting FOMC came out with tightening bias overlooking a great great productivity increase and a very very benign PPI (which traditionally is indicator for first signs of inflation) figure. There were more numbers for, than against staying pat for at least another quarter before announcing any tightening efforts. Gold is way down, CRB is stable and the bond market is showing signs of steady interest. Then this past Monday after the FOMC Greenspan made a statement to the effect that American's are using their market profits to purchase goods with cash and this can cause inflation in the economy. Well that's all this nervous market needed was a statements by a tightening bias FED that he is seeing inflation with indicators that usually are not used to measure inflation. And why? IMO because all the indicators are showing otherwise and Mr. Greenspan wants the market at a lower valuation (The markets think he knows or sees something they do not). That's ok for safety's sake but 1) Greenspan is using fear and panic control where there should be none and 2) He is overstepping the FED's normal order of business which is economic stability and bank regulation safety. If the markets want to put overvaluation on certain stocks they will eventually correct in due time but to have this broad brush with all stocks for the sake of keeping money out of the hands of John Q Public is wrong for a FED to partake in IMO. TTOSBT