Zeev, Jay, thread,
You talked about sentiment not getting negative enough in your post to Jay, Zeev (<<There was no extreme pessimism just before the the fed induced rally, (no extreme negative tic readings as we were making new lows).>>)
Well, FWIW, on WSW, Marty Zweig turned bullish in part because his sentiment indicators just went to a "10", the highest possible negative reading, only reached, he said, 13 other times for as long as his data goes (I forget how long that is). He said that on the other 13 times, the market (I forget too whether he used to Dow or the S&P as his index for this) was higher by 26% on average a year later.
Sounds good to me.
s. |
