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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (38)	9/8/2006 9:02:00 PM
From: Kirk ©	Respond to of 27260

"What is the short interest ratio?" Number of shares short divided by total number of shares outstanding in the NASDAQ. Currently it is around 4.5%. With all the buy backs, consolidations and company collapses, the float is slowly being reduced so the ratio can go up even if number of shares short doesn't. best wishes Kirk

To: Investor2 who wrote (38)	9/15/2006 4:29:40 PM
From: Kirk ©	Respond to of 27260

ANOTHER LOOK AT THE BULLISH PERCENT INDEX From John Murphy Fri, Sep 15 2006 3:54 PM ET ANOTHER LOOK AT THE BULLISH PERCENT INDEX ... One of our readers asked for my read on the S&P 500 Bullish Percent Index. Charts 4 and 5 shows two versions of what it looks like at present. The BPSPX measures the percentage of stocks in the S&P 500 that are on point & figure buy signals. Generally speaking, readings over 70 represent an overbought market. The last downturn from that level in early 2006 was an early sign of a weakening market. It's important, however, for the market to find support around its 50 line. That's because 50 is usually the dividing line between bull and bear markets. A decisive drop below 50 signals a shift from a bull to a bear market. So far, that hasn't happened. In fact, the BPSPX bounced off 50 and is starting to rise again. Chart 5 shows the p&f version of the chart which is the one generally used for trading signals. It paints a more friendly picture than it did a couple of months ago. During July (number 7), the last o column was threatening the bottoms of two previous o columns and its rising 45 degree support line (the o columns show falling values). Fortunately, it has since bounced off those support levels. During September (represent by number 9) the last x column exceeded a previous x column, which is technical buy signal. [The last green x represents today's price action]. The main message of the chart is that the S&P 500 avoided turning into a bear market during the summer and is attempting another upleg. And my charts