RUNNING OF THE BULLS:

Several Indicators last week were nearing high levels of Bullishness "ON" the market (Bearish for it): the ratio of Volume on the NYSE vs. Nasdaq was near its speculative highs; the Inv.Intell. Bulls rose above 50, vs. 22 Bears; Margin Debt is huge - above $300B last seen at a previous market top ; others - VIX, McClellan Oscillator, Bullish %, not quite extreme yet but getting there:

MktSentiment	Last Week	Prev. Week	5 Yr HI	5 Yr LOW
DJIA:	12220	11858	14093	6626
Nasdaq:	2743	2643	2861	1114
S&P 500:	1313	1279	1561	683
CBOE Eq. put/call:	56	73	96-10/08	46-1/03
VIX:	17.9	24.4	90	8.8
McClellan Osc:	24	(26)	108	(123)
McClellan Sum:	426	386	1568	(1514)
Newsletter Surveys
InvestorsIntel.Bull:	50.6	52.2	63	22.21
InvestorsIntel.Bear:	22.4	22.3	54.4	16
AAII Bull:	37.7	28.5	n/a	n/a
AAII Bear:	35	40.1	n/a	n/a
US Equity-1 week lag	n/a	(1.3B)
Money Market Flows	(7.8B)	(10.5B)
Baltic Dry Index:	1538	1317	11700	663
Bullish %:	77	72	89	2
Insider Corporate Sellers:	23:1	55:1	198:1	2.4:1

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RUNNING OF THE BULLS: