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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 662.63+0.4%Nov 19 4:00 PM EST

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To: bobby beara who wrote (19151)7/2/1999 10:11:00 AM
From: pater tenebrarum  Read Replies (2) of 99985
 
Bobby, <<Top of the LA Sunday bus section: "Has the U.S. Economy Entered a Gold Era?>> uh-oh.
J.T. over on the MITA thread has expanded a bit on your theory that a blow-off may be characterized by never before seen extremes in the sentiment data - that is quite possible, and i have duly mentioned the possibility in my last p/c ratio update. i would say we should look at how a pullback impacts on sentiment - if skepticism returns quickly, we may indeed see the blow-off many have been waiting for. in which case there is no telling how high we could go. of course, it could be a most ingenious bull trap as well; if past extremes in bullish sentiment are taken as a yardstick, then this is what they now suggest.

regards,

hb
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