The Kondeatieff Winter Mr. Zeev Hed, There is no question that we are sitting on the precipice of a very steep decline. I agree with your early warning signals. This is going to be a banner year followed by signs of stress in early 2005. Culminating in the fall of that year with massive declines in the market. <A HREF="http://www.angelfire.com/or/truthfinder/index22.html" target="_new">http://www.angelfire.com/or/truthfinder/index22.html</A> <A HREF="http://www.gold-eagle.com/editorials_02/chapmand062902.html" target="_new">http://www.gold-eagle.com/editorials_02/chapmand062902.html</A> <A HREF="http://www.ttheory.com/public/pubstudies/megatopics/longwave.html" target="_new">http://www.ttheory.com/public/pubstudies/megatopics/longwave.html</A> <A HREF="http://faculty.washington.edu/modelski/IPEKWAVE.html" target="_new">http://faculty.washington.edu/modelski/IPEKWAVE.html</A> <A HREF="http://www.traders.com/Documentation/FEEDbk_docs/Archive/092002/Abstracts_new/Elrod/elrod.html" target="_new">http://www.traders.com/Documentation/FEEDbk_docs/Archive/092002/Abstracts_new/Elrod/elrod.html</A> <A HREF="http://www.geocities.com/deuxsous/KLW.html" target="_new">http://www.geocities.com/deuxsous/KLW.html</A> <A HREF="http://www.infognome.com/K_wave.html" target="_new">http://www.infognome.com/K_wave.html</A> <A HREF="http://www.gold-eagle.com/editorials_02/hultberg120502.html" target="_new">http://www.gold-eagle.com/editorials_02/hultberg120502.html</A> <A HREF="http://www.financialsense.com/transcriptions/Gordon.htm" target="_new">http://www.financialsense.com/transcriptions/Gordon.htm</A> <img src=http://www.depression2.tv/chronicles/images/k-winter.jpg> Not much we can do about it.Think I'll have a beer! M-