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To: bobby beara who wrote (54073)	7/30/1999 10:02:00 PM
From: John Pitera	Respond to of 86076

Bob, right you are, anecdotally I am seeing much less shorting and put buying than anytime in the past couple of years, esp. considering that we are 2 weeks into a sell off. I recall us trying to decipher that Titanic Indicator back then -g- I also recall that when Jerry Favors was on cnbc trying to sputter out all of the parameters, that seemed to mark his last appearance as a weekly Friday afternoon guest. So the titanic is still taking 'em down -vbg- Remember everybody was talking about breadth, titanic indicators etc, a whole bunch of newsletter writers exited the market then and now they have all gone back on buy signals since then and have been trapped, just like last year, except we have two failed bearish patterns, the one on March 3 and the one in early/mid June. Double trouble, people who are bearish have just thrown in the towel, because of so many failures, that's why i mentioned the superbear threads are ghostowns.