--><font color=#0000FF>"... the markets look good, they always do at the top."</font>


>A close look at the overall market is actually very positive.
>Dow Indu.... 9.75% from an all time high
>Dow Util..... 5.5% from an all time high
>Dow Tran 2% from an all time high
>S&P 500.... a 65% gain over the past 3 years. This gain ranks in the top ten for any three year period in the 200+ year history of the SPX.
>Nasdaq Comp..... nearly a 100% gain in 3 years.
>Russel 2000....an all time high
>S&P 600 small cap....an all time high
>S&P 400 mid cap.....an all time high
>NYSE....an all time high
>Anything can happen from here but one thing is certain, not a single fact from the above data can be construed as bearish. The 3 year period from 10/2002 - 7/2005, ranks very high amoung the greatest expansions in the history of the US stock market.
>Walk softly bears.
>

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