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Re: Why is everyone so bearish?

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<DIV>&nbsp;</DIV>
<DIV>You Wrote:</DIV>
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<DIV>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"Greenspan&nbsp;will 
keep inflation in check with pre-announced rate hikes."</DIV>
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<DIV>You probably answered your own question. IMHO, Inflation has started up 
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<DIV>(see attached chart of the CRB) and it is just a matter of time before the 
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<DIV>Feds hike the rates.</DIV>
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<DIV>&nbsp; Adam Hefner</DIV>
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<DIV><FONT size=2>----- Original Message ----- </FONT>
<DIV><FONT size=2>From: &lt;<A 
href="mailto:GREHERT@xxxxxxx";>GREHERT@xxxxxxx</A>&gt;</FONT></DIV>
<DIV><FONT size=2>To: &lt;<A 
href="mailto:realtraders@xxxxxxxxxxxx";>realtraders@xxxxxxxxxxxx</A>&gt;</FONT></DIV>
<DIV><FONT size=2>Sent: Wednesday, August 18, 1999 6:02 AM</FONT></DIV>
<DIV><FONT size=2>Subject: Why is everyone so bearish?</FONT></DIV></DIV>
<DIV><BR></DIV><FONT size=2>&gt; I can't understand why everybody is so 
bearish.&nbsp; The two main reasons cited <BR>&gt; by most experts are rising 
interest rates and the Y2K uncertainties (and lets <BR>&gt; not forget 
inflation).&nbsp; Well as I see it, interest rates have just dropped <BR>&gt; 
more than 25 basis points; Y2K will probably be a big thud, and Greenspan 
<BR>&gt; will keep inflation in check with pre-announced rate hikes.<BR>&gt; 
<BR>&gt; Technically, we're not due for a 20% S&amp;P correction.&nbsp; Remember 
we get a bear <BR>&gt; market every 4 years.&nbsp; That would be 1990, 
1994(stealth-bear), and 1998.&nbsp; <BR>&gt; Next one's due in 2002.&nbsp; Two 
20% corrections 12 months apart would be <BR>&gt; unprecedented.<BR>&gt; 
<BR>&gt; I would guess that we have another 1994 zig-zaggy type summer with 
probably a <BR>&gt; test of the lows and as&nbsp; soon as Y2K passes, an 
explosion torr the upside.&nbsp;&nbsp; <BR>&gt; Your thoughts?<BR>&gt; <BR>&gt; 
Jerry Rehert</FONT></BODY></HTML>
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