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To: bobby beara who wrote (1016)	8/28/2001 9:00:35 PM
From: mishedlo	Read Replies (1) of 2290

i would be hesitant to call a firm bottom until we see some real fear in the media, which was evident at the march bottom, but not now. bb - Media fear is worthless. As for me I would look at P/C ratios and TICK count. Tick count was not close to panic on the NAZ imho. We rallied for one reason and one reason only. too many puts were in the money so the MMs just gapped the market up day after day after day. There was no real buying. 3 consecutive days, entire gain was on initial gap up. Totally crooked IMHO and it toasted me bad. That is why I am now watching P/C ratio as a primary indicator. Call buying lately has been intense. M

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