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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: MrGreenJeans who wrote (3103)	1/30/1999 3:03:00 PM
From: Boca_PETE	Read Replies (2) \| Respond to of 15132

Mr. GJ: RE: < VALUATION PROBLEMS + SENTIMENT PROBLEMS > In addition to VALUATION PROBLEMS you so astutely point out, add to that the following SENTIMENT and OTHER glaring "Warning Lights": (1) Investor Advisors 68.3% Bullish of Bulls plus Bears. (2) Reported 60.7% Bullish Advisors represent third 5-year record in three weeks. (3) Mutual Fund Percent Liquid Asset Ratio sunk to 4.6% per today's Barrons. (4) Excess Free Reserves dropped to $918 mil per this week's Barrons, compared to $1,844 mil last week - looks like FED tightening liquiditiy to me. (5) The CBOE Put/Call Ratio has been bouncing around mostly in a range of .42 to .52 so far during Jan 1999 with a few exceptions. My gut level tells me the last greater fools are being sucked into the market during the current relief "sucker" rally in tech and interNUT stocks. Could be we'll get a sharper than expected February consolidation or correction. I too am speculating that I will be buying stocks more cheaply in short order at a lower multiple on the S and P 500. P