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To: Haim R. Branisteanu who wrote (77252)	3/8/2001 2:38:05 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

Haim, the only short interest that is high is the professional one - specialists and commercials. pension funds and insurance companies have equity allocations so high that they have left the bounds of prudence a long time ago. i'm sure they do know what they want to do with that money: get it out, before it's too late. WS equity allocation models are at an ALL TIME HIGH, suggesting that there is no-one left to buy. of course the better part of the Nasdaq decline has already happened, since it is down almost 60% from the top. it remains however egregiously overvalued, with deteriorating fundamentals. prices are FAR from reflecting reality. and the economy isn't healthy anymore, all official protestations to the contrary notwithstanding. before this bear market is over i guarantee you that the bag holders will have been taught the meaning of fear. and i don't think the market will be mindful of the wishes of politicians. otherwise Hoover would have won a second term, and Gore would have won the presidential election. i remember very well that there was a widespread consensus that the presidential election was a 'guarantee' of a splendid year 2000 for stocks. and yet, it was the worst year for the stock market since '82.