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To: Real Man who wrote (61216)	9/10/1999 11:22:00 AM
From: pater tenebrarum	Respond to of 86076

Vi,<< If there is any sense in these markets, they must crash now.>> you said it. and there isn't - any sense that is. it seems quite possible to me that the stock/bond yield ratio ultimately reaches a Fibonacci multiple of the '87 peak and the duration of the a/d line divergence at the same time reaches a fibo multiple of the '29 divergence. if so, the market has still a ways to go before it collapses. otoh, there are signs that the bears are capitulating as the NYSE short interest ratio has recently reached a multi-year low of 3,90 and the NYSE members have now been net sellers for 4 weeks in a row. however, the mania may well stump even the professionals this time. final blow-offs always look so unlikely in terms of where valuations are going that they defy all reasonable assumptions.