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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: que seria who wrote (87563)2/17/2001 11:45:14 AM
From: Area51  Read Replies (1) of 95453
 
< I note the 61% bullish report with great disbelief>

I think your skepticism is warranted. Here is the latest AAII sentiment survey dated 2/15/01:

Bulls Step to Sidelines, According to AAII Sentiment Survey
Where did all the bulls go? This week's American Association of Individual
Investors' (AAII) sentiment survey showed that bulls stepped to the sidelines. The percentage of investors who consider themselves bullish dropped to an eight-month low, coming it at 30.43% during the week ended Feb. 14. The percentage of investors who consider themselves neutral, meanwhile, came in at 47.83%, the highest reading in a year. The percentage of bears moved higher during the week as well, coming in at 21.74%.

The survey's recent success at being a good contrarian indicator remained intact last week, as the percentage of investors who considered themselves bullish during the week ended Feb. 7 reached a two-month high. Not surprisingly, the Nasdaq fell 4.5% during the past week. The Dow fell 1.4%; the S&P 500 fell 1.9%.

This week's higher bearish reading and lower bullish reading should be perceived as bullish by the market. The wild card, though, is in the neutral figure. Next week's poll -- for the week ending Feb. 21 -- should be interesting,
as we find out if those investors sitting on the sidelines decide to take on a bearish or bullish stance -- or if they decide to remain in the middle a little while longer.

thestreet.com
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