I saw that 7-day streak blurb on thestreet.com. Fwiw, it's inconsistent with data from vtoreport.com, which lists 41 streaks of 7 consecutive up days on the naz, 29 streaks of 8 up days, etc. and even a 19 day streak in 1979: http://www.vtoreport.com/nasdaq/nasdaq-streaks-day.htm
Amgdata.com shows equity mutual fund inflows as lower in August 03 than in several months, including August 2000, April 01, and April, May, June, and July of this year. Don't know how accurate their data is.
I respect Doug, he makes lotsa sense. Have seen him on K&K a few months ago when he was loading up shorts on AOL. Has been bearish for a while, don't know if he capitulated early and reshort. Smart sensible guy, probably takin beating in this rally.