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To: marginmike who wrote (116364)	4/11/2005 11:00:46 PM
From: skinowski	Respond to of 209892

Sentiment is excedingly negative Don't know, MM. My take is that it is kinda mixed. The Sentimentrader (whom I read) also seems to find that it is rather neutral. If that's the case, that may not be good for the bullish case, since we did have a significant decline. We should be seeing more fear. As for the large picture, I think we most likely ARE in a secular bear. Did you, btw, catch this article by Paul Volker? I think it is an important piece from the former Fed chair: Message 21216532