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To: BDR who wrote (195573)	10/5/2002 3:10:14 PM
From: BDR	Respond to of 436258

Larry McMillan (http://www.OptionStrategist.com) reviewed the indicators for signs of the market's direction but found them contradictory. Like Schaeffer he is looking for a much higher VIX to mark a bottom. I thought some of the anecdotes at the end of his piece were interesting: "Which one will it be? We really can't tell. Many, many individual stocks have negative charts and -- from an informal survey of individual investors at an option forum this week -- I'd say that the average investor still has plenty of hope that his stocks will go back up. Those facts don't seem to be the stuff of which bottoms are made. However, two recent newspaper stories make the opposite case: 1) an investment club decided that the stock market was so bad, they took their remaining funds and went on a Las Vegas junket, and 2) it has been reported that a number of investment clubs are switching from stock market investing to real estate investing. Those actions of investment clubs -- which are often the most unsophisticated investors imaginable -- might lend credence to a more bullish scenario for the overall market."