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To: JRI who wrote (6994)7/12/2001 4:46:24 PM
From: Shack  Read Replies (2) | Respond to of 209892
 
Yup, they're in panic mode alright. No doubt that the liquidity being pumped into the system is the biggest threat to the bears and it is really all the bulls have left. Argentina is only the first to fall, there will be many more. The bubble is in major danger right now.

A reminder that at the 1998 bottom, the commercials were also net long the spoos. Not net short 80K contracts.