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To: AllansAlias who wrote (50599)	8/19/2002 8:34:23 AM
From: John Madarasz	Read Replies (2) \| Respond to of 209892

In the words of our former fearless leader...that all depends on how you define down <g> for me...gotta tilt in favor of objective stuff like equity p/c etc. over postings...and flip out fast is proven wrong. eliminates worry completely from the equation

To: AllansAlias who wrote (50599)	8/19/2002 8:49:52 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 209892

Allan I got the same feeling even that it seems that the recovery is "flat" at best. Now they will start selling "next year" earnings which may be higher any way. Interesting to see the trade deficit and budget deficit tomorrow. BTW how that goes with your wave count?

To: AllansAlias who wrote (50599)	8/19/2002 10:53:08 AM
From: bcrafty	Read Replies (1) \| Respond to of 209892

I started seeing the bearishness on Thursday rather than over the weekend. Although I don't use reverse sentiment as much of an indicator as many people here apparently do, after reading posts Thursday night I started getting the feeling that the posters were reminding me of bulls trying to call a bottom, falling all over the P/C ratio data as an indication of an imminent decline from the perceived top. The P/C ratio seemed to get the award for "the most discussed indicator" late last week, just as the $VIX did after the 7/24 rally began. But as Freep's study and Shack's chart show, there's not as precise a correlation of P/C to IT market tops as many think, with the .40 P/C not being as exact for timing tops as maybe a 50 on the VIX has been for timing bottoms for the past few years. Surely the P/C isn't to be ignored, nor is the meager and declining volume, for the rally to go further. But I think many bears were getting lathered a little too quickly last week. And at the risk of sounding like a broken record, many didn't mention their timeframe and say for how long they expected a decline, but nevertheless implied the worst in their posts (whether they felt the worst is days, weeks, or months away)