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To: yard_man who wrote (71624)	4/17/2003 5:18:10 PM
From: Paul Shread	Read Replies (1) \| Respond to of 209892

We have had tremendous moves down in fear levels without any gain in price. Further price movement may not be necessary ... or possible.

To: yard_man who wrote (71624)	4/17/2003 8:00:59 PM
From: Shack	Read Replies (3) \| Respond to of 209892

You're listening to JT now? After dropping nearly 50% from the highs, the SPX has gone sideways for nearly 9 months and he sees this as bullish? And he continues to look up here at the top of the range? Puhleeze, you must know by now that he'll keep coming up with whatever argument supports the moonshot. Anyway I don't mean to slam the guy, just a reminder where his bias lies. As for junk bonds they have indeed had a nice run but I do not see this as a leading indicator. Its an asset class and is not a calling card for the market.