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To: John Hunt who wrote (16973)	11/2/1998 9:17:00 PM
From: Kip518	Read Replies (1) of 18056

Fleckenstein on specialist-short ratio. The specialist short-sale ratio is right up to the high we saw just before the break in the summer of 1997. In this decade, it has been higher only once (early 1991). Going back 10 years, the last time it was this high was right before the crash of 1987. The specialists are kind of seeing it the bears' way at the moment; let's see if they get it right. stocksite.com

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