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To: timers who wrote (63426)	1/31/2001 12:29:31 PM
From: pater tenebrarum	Respond to of 436258

Feb-March, during the NAZ blow-off. but the ratios weren't in unison then, Nova/Ursa (SnP) actually diverged at the time. there was another relatively long stretch into the July high. the stretches of extreme ratios have become shorter since the NAZ mauling started in earnest. naturally bull and bear phases require a slightly different interpretation. i would say the entire year 2000 was EXTREME in terms of this ratio, and it will take a very long time, and painful declines to unwind this type of bullish sentiment extreme.