Hi Bob, That's fine, I don't mind you clipping coupons while I wait. :-)
I would think that the weaker hands have let go by now of both UOPIX and the N-100 stocks. Stronger hands will eventually support the bottom. I don't see the future, so can't do any more than guess at it.
I read your "bull/bear" sentiment note with interest. As long as there are new fresh investors with some $$$ in their pockets, there will be optimists! Are the pessimists all in hibernation, or do they just not show up to vote because they're too depressed?
Maybe the ballot was confusing and they thought they were really voting bearish when in fact they were voting bullish. Maybe the Neutral marker was close to the Bullish one. It could be a conspiracy to cheat investors our of their Right to know where the market is going next! Let's examine the forms! Let's get Tom Brokaw's opinion on the subject! Katie and Matt should be given a chance to speak, too. I bet if we try, we could get Reverend Jackson's opinion as well.
I demand a RECOUNT!!!
I'm hiring a Lawyer! :-)
Seriously, I really am surprised by the continued bullishness. My own indicator has dropped a very long way, but is still only back to about the middle of the "Average Risk" range. This is still a long way away from Low Risk. I personally blame too much "purchasing power" being on hand. Part of it is in the form of continuing cash deposits through retirement plans into institutional manager's hands. Part is money taken from the table earlier this year.
As wild as the speculation got last March, and with a tidy 40% trimming off the top of the NASDAQ high, we should have seen my Speculation index go to negative values, and it hasn't.
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This tells me that your view on investor sentiment is probably right. Still too many optimists out there!
Best regards, Tom |
