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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (20022)	9/26/2001 11:37:02 AM
From: Paul Shread	Respond to of 52237

Justa, The PC ratio was nice - but then promptly fell through the floor. No skepticism or lasting fear there, IMO, unlike April. WS equity allocations were raised on Monday; they will be cutting at the bottom. They briefly dipped below 50% in 1998; they're at about 70% now. Non-commercials in the NDX remain at glue-bong levels, while SPX commercials may have added longs, but they did not reduce shorts. TRIN was way too low - for whatever reason, intervention or not. No 90% downside days. Mutual fund outflows were not nearly as strong as I'd like to see. In short, we need people to give up and walk away, and I don't think we saw that last week. At a minimum, we need a show of bullishness by SPX commercials, and we don't have that yet either. Paul