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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST

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To: LTK007 who wrote (30375)10/18/1999 9:21:00 AM
From: bobby beara  Read Replies (2) of 99985
 
Max, i have heard a lot of talk on the threads this weekend about heavy bearish sentiment being a contrary indicator, however i would remind people that we are coming off not a one week reading of bullish advisors over 60% like last year, but several readings over 60% since January.

I have heard some comparisons to last years bottom in sentiment, but last year we had a friendly fed. I re-read Trader Vic's chapter on who holds the pump and who holds the needle this weekend, good read.

Of course there is no way we could have a repeat of 10/19/87, but then when i got real bearish off the July top, people told me we couldn't get a repeat of last year.

bb
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