PARALLEL UNIVERSE:

Paradoxes abound - the world seems awash with liquidity, yet Barrons reports Money Market Cash and Funds' portfolio Cash is at least at 1 year lows; we have a negative 1% Savings rate (worst since the Depression), yet people still have money. Stocks are only at 10% of Household assets, versus 23% in '00.
Complacency increases with a lowering of Public/NYSE Specialist shorting, increasing AAII Bulls, the UBS Investor confidence rising over 100, and the VIX right at 10.
Please see below:

Mktsentiment. 2/2/2007......5Yr.HI........ LOW

DJIA ………. 12653nh...........12653...........7286
Nasdaq………. 2475............2502............1114
S&P500…….. 1448............1430............776
CBOE Equity put/call .62............87-5/04........46-1/03

VIX ………. 10.1.........44 9/02........10.0-11/06

ISEE-call/put ……. 97...........299-12/04.......82-4/02
(>200/Bearish)

McClel Osc.(+75/-100)……39...............91-5/04.........(81)-5/04
McClelSum.(+750/-1153nh) 789...........1568-6/03.......(726)-5/04

Newsletter Surveys:
Inv.Intel -Bull:…..…. ..53.3...........62.9-12/04......35-6/06
Bear:………… 21.1 .........38.2-3/03.......16-6/03

AAII-Bull/Bear …….46.3/30.5.....n/a n/a
MarketVane Bulls…. 70......... 73..............24

Birinyi Blogger
Bull/Bear Poll …………32.2/38.7
Bullish%- ………76...............88 -2/04...... 46-8/04

*Insider corporate sellers 39:1, up from 20:1 in Nov.
**UBS Confidence and Consumer Confidence Surveys at 5 year highs-103
***Schwab Daily Average Trades at 250k, same area as in 2000 (2002 was 140K).