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To: Moominoid who wrote (43708)	6/27/2002 8:45:39 PM
From: Shack	Respond to of 209892

I see what you're saying. Your 'B' makes some sense to me but I find it impossible to believe that we would complete your 'C' down so quickly given your large 'A' down took over a year. I also have a real problem with a 'C' ending with this kind of sentiment and valuations. Everyone looking for a bottom, the small specs long the SPX and the SPX with a 30 P/E??? That's not how bears end. (Don't even get me started on the NDX P/E) I still think we are in large degree jell-o out of April '01, or we are only in the early stages of the 'C' down.