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To: lifeisgood who wrote (7244)	7/28/1999 6:02:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 15132

We are within a few percentage points of all time highs not only with regard to major indices, Look at a 60 year chart of the major indices, or at least of the S&P 500. Has your statement been untrue more often than it has been true. Hint: 78% of the time the market goes up. That's a little better than 3:1 odds for those that stay invested. Just like at the race track, playing the long shot doesn't provide an adequate return to compensate for the risk taken. Ian.

To: lifeisgood who wrote (7244)	7/28/1999 7:03:00 PM
From: Allan Harris	Read Replies (1) \| Respond to of 15132

We are within a few percentage points of all time highs not only with regard to major indices, but also with regard to P/Es, price/book, etc... Sorry, my mistake. I thought that "bullishness" and "complacency" were being used to describe market sentiment, not absolute levels of prices or assorted fundamental measures. Interesting definition though. These things are much higher than in previous periods and this can be easily verified by examining historical data. No argument here. Great Montana, Mr. Bow Tie, Georgia Peach.....move over and make room for one more. By the way, who's Bob Prechter? Played drums in a band in the 60's. I met him once at a Libertarian meeting in Georgia. Wrote a book about sailing. Interesting fellow. A