OT Cash Position: I'm surprised there are so many people with 90% cash out there, and also surprised by the amount of people that say they are just about fully invested, and act like their being safe because they are off margin. Meet one of the in between, I am currently about 53.5% cash, which tells you I'm bearish yet at the same time I don't think the world is coming to an end here either. If we start comparing it to late 1999- early 2000 pe's are much lower, and interest rates still remain relatively low at this point as well (although probably still going to rise a little more, but not dramatically in my opinion). In my opinion, I think we will go lower, but worst case will probably pull back 50% of the run from oct 2002-dec 2004. At the same time I think there is about a 30% chance where we are flat to higher from here at the end of the year. An what can I say I'm just cocky enough that if the market is slightly down or flat that I believe I still can make money on the long side of this market. Of course this is all just my humble opinion.