September 26, 1999. There has been a lot of negatives about the markets lately because of poor breadth and generous P/E ratios. Also on the minus side is Mr. Greenspan who has us worried about interest rates, which actually hold the markets from creating higher highs. And there is no inflation! What's going on? Well, he says we can not have increasing inflation and this is the best way to curb it.

Did you ever listen to two economists and get two different views on the same subject? There is no way of deciding who is right or wrong, because the economy works its own head on the amount of money that is circulated around the world.

Lets get back to the stock market. I remain bullish for the long term and for the next 10 years, at least. The confidence level is very high because technology is going to be the factor which will create business to expand to it's fullest potential. There is no limit to what these managers can accomplish, especially the ones that start their own businesses. The way I see it, there seems to be no stopping. Get the boat ready!

I see no reason for any real selling that will turn this market into a bearish mood for the future and near term. Sure, you may get a correction of 10 % before Thanksgiving but it won't last long. No reason to panic. My personal view is the market will stay the way it is until later in the year when it will close about 11,800 on the Dow. Mutual fund managers are stating that the money will come in at the beginning of next year when investors see that Y2K won't be a problem and then, look out! Start the engines.

George