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[2cents]

It certainly took a lot longer than I thought possible to get to this state. The month end should be a wooper as the conditioned come back in to pick up the bargins. And there are some bargins out there such as energy and gold stocks. Give where the fear indicators are we should see a turn mid friday. Good luck out there.

[thespookyone]

My take is that just because something is priced lower than it was-hardly makes it a bargain. Oil stocks have been underperforming the commodity for a while now=BEARISH. Gold couldn't beg buyers in a high inflation, credit problem ridden environment-while many of the gold shares are in bearish wedges, or huge head and shoulders patterns-like GSS. Wouldn't touch either here. Equity PC lurched up to .85 from .64 yesterday, actually less of a gain than from Monday to Tuesdays close, while index PC gained to 256 from 1.87 yesterday. While dangerous to use those numbers as raw data, my point is that neither number is screaming FEAR. As a matter of fact, after Tuesdays drop, the equity call buying heated up a bit Wednsday-where is the fear? It seems, somehow, folks are more impressed by the 120 point bounce off the lows-than they are the 311 point overall drop-go figuire.