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To: Bill Harmond who wrote (81069)10/18/1999 2:28:00 PM
From: KeepItSimple  Read Replies (1) | Respond to of 164685
 
>Yes. High put-buying is a contrary indicator.

Contrarian indications mean nothing in a mania. For 2 years, EVERYONE was betting the net stocks would soar, and they were all right. Only the shorts got killed.

Of course, in a bear market, many will make very successful short bets- and they'll keep getting "lucky" for a long time, just as the bulls got lucky in the previous two years.