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To: timers who wrote (69371)	2/20/2001 3:32:26 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

i don't understand your second question. otherwise, the commercials usually turn their position around toward long in a declining market...not this time though. so i've no idea where they think the bottom will be...usually they are net long right AT the bottom. the Nasdaq continues to be ridiculously overvalued in spite of the decline thus far. maybe they'll only switch to long when fair value is reached? that doesn't mean there won't be buyable ST bottoms...it only means the bear market can't be over yet.