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To: fedhead who wrote (153626)	2/24/2003 8:01:20 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 164684

the VIX only started working when there was widespread participation in the mkts. The Vix didn't work in the 70s, for example. Nobody cared about stocks then. Thats how it is now. We might get high vix readings again, and that might be a good time to buy but I'll bet the nas is still over 1100. All those indicators measure is sentiment of the fixed number of participants in the mkt at a given time. To quote another poster, what we are looking at here are the feelings of the last 10 participants in a 1000-person poker tournament. My feeling is most if not essentially all of the money that wanted out of the nasdaq is out, and now it is just flat, choppyness ahead. I know you expect a major decline- don't you think if that is to materialize it will have to happen in the next few mos?