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To: Boplicity who wrote (3135)	7/28/2000 5:11:52 AM
From: allen menglin chen	Read Replies (1) \| Respond to of 13572

Mark Leibovit MarketGate for July 28 ... It is clear sentiment has turned quite bearish (which might be a positive). ... Have you heard any discussion on CNBC regarding the 'summer rally'? It's been noticeably absent from their insightful commentary. Looks like the summer rally ended on July 17 when all the major stock indices peaked. ... In any event, we have some interesting developments over the very short-term that are worth noting. ... A CNBC reporter quoted a formerly famous technical analyst of the 1980s (unnamed) on Thursday and that caught my attention. I used to call him 'cycle bear', but he is what is also known as a 'perma-bear', i.e., to the best of knowledge he has been bearish since 1987. And, just about everytime he is quoted in the media the market uncannily is near some type of bottom (large or small). I'm telling you watching CNBC is better than watchiing the circus. Another money manager was quoted (obviously depressed) shaking his head worried about what might happen should Nasdaq 3500 fail to hold. Reporters were noticeably glum too as they watched their retirement accounts slip away with the high-techs. Anyway, in my own cyclical work we coming into a a theoretical 'change of direction point' this weekend suggesting the possibility that the market may reverse back to the upside, regardless how meagerly. It is interesting times. ... Mark Leibovit vrsurvey.com