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To: sandeep who wrote (4994)	11/1/2002 5:03:15 PM
From: Shack	Respond to of 10157

Why isn't that a flat correction That is what the bulls are seeing (and I was seeing too for a while). That is until the sub .5 readings started on the equity P/C, before the 5 straight days of +1000 TICK on the NYSE with price going nowhere, the better than 50% bulls in the AAII survey, the commercials adding shorts during this "consolidation", the bearish wedges on key stocks/indices. A flat correction needs to CORRECT the advance and we have not corrected even 38%. It is not healthy to be hanging around the top of these sticks chopping away while everyone and their mother gets bullish (present company excluded of course..for the most part). It has now become a distribution top IMO. This thing may not be quite ready to roll yet but we are in the home stretch methinks.