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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/4/2001 7:46:12 PM
From: besttrader	of 37746

Subject: Schaeffer on Sentiment --> Schaeffer was a MEGA BULL, IMO that makes his current comments quite valuable. From "The Slope of Hope-Part Deux"..."In my March 26, 2001 special commentary entitled "Magazine Covers and the Slope of Hope", I played off Bob Prechter's observation that "bear markets decline on a slope of hope" by pointing out why the so-called bearish magazine covers being cited by the bulls as signs of a market bottom were based on a flawed argument." He continues "Time magazine is now officially bullish just weeks after their so-called bearish call, which, as I indicated on March 26, was actually a plea to investors to hang in there and not sell. But wait...there's more!! The current cover of the May 2001 issue of Smart Money magazine asks:"Are you ready for the (market) rebound?" What's my conclusion from a long term perspective? "Be afraid. Be very afraid." Because the media is once again reflecting the near-unanimous and unprecedented bullishness on Wall Street on a market that only has one foot in bear territory and the other foot on a banana peel of a potentially imploding economy." For entire text see www.SchaeffersResearch.com

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