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To: Jacob Snyder who wrote (4310)	2/8/2003 5:39:20 PM
From: puborectalis	Read Replies (1) \| Respond to of 13403

``There is no such thing anymore as buy and hold,'' said Federated Investors Inc. Vice Chairman Thomas Madden, who helps oversee $195 billion and foresees a bear market for another decade or longer

To: Jacob Snyder who wrote (4310)	2/8/2003 6:12:57 PM
From: Return to Sender	Read Replies (2) \| Respond to of 13403

>That's the problem with sentiment indicators, it can always get worse.< For my purposes the use of both technical analysis and sentiment based indicators is based on past extremes. Sure things can get worse. Indeed I expect that they are going to continue to get worse but there are limits. The current selling has been taking place on light volume. The bulls would say that is good. The bears on the other hand would suggest that if the bulls cannot even win out in January when traditionally more money comes into the market than any other month then this year is destined to be another downer. Personally I agree with the bearish viewpoint at this time but when the VIX trades back over 50, BPNDX is under 20 and the newsletters writers sentiment shows more bears than bulls we can expect another large percentage rally from that bottom too. We have been discussing this on the Wennerstrom thread. I honestly believe we will be able to call the next bottom within a day or two this time around. In the meantime we have a long way yet to fall to get the sentiment indicators aligned correctly along with many of the technical ones as well. We could rally a bit here and there before we reach the latest bottom though as we are oversold. RtS