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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: Cynic 2005 who wrote (66161)10/4/1999 1:13:00 PM
From: bill meehan  Read Replies (2) of 86076
 
Mohan, the recent large increase in the number of bears is just a Wall Street and media contrivance. Yes, many perma-bulls have become cautious (some for only a day or two when the market bounces--the same folks who've been advising being very heavily exposed to the market and now point out that so many stocks have lost so much ground that now is REALLY the time to buy), but I don't get any sense that there are a significantly larger number of bears on Wall Street. That's quite strange since you'd expect every technician with five senses to be bearish. Many of them have come to depend upon "new metrics" to adjust their outlooks based upon how the market has acted during the current mania.
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