According to the below link, the P/C ratio is as high now as it was at the last 2 major bottoms. <A HREF="http://www.vtoreport.com/sentiment/putcall.htm" target="_blank">http://www.vtoreport.com/sentiment/putcall.htm</A> On the other hand, number of bearish advisors isn't that high... (hard to get everything to line up, huh?) <A HREF="http://www.vtoreport.com/sentiment/sentiment.htm" target="_blank">http://www.vtoreport.com/sentiment/sentiment.htm</A> thanks zerofinance