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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 662.72+0.4%Nov 19 4:00 PM EST
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To: brunn who wrote (74776)4/12/2001 9:59:58 PM
From: Psycho-Social  Read Replies (1) of 99985
 
Re Nasdaq PE:
As I stated in the prior post, it's probably not worthwhile to try to use PE's an investment or trading tool. The fact that there have been 9 consecutive weeks of $ outflows from Tech Funds (Contrarian indicator) is probably more meaningful for the intermediate term.
Personally, I just sold my 20% position in Putnam Voyager because of a rather decisive, but short-term, sell signal from Jake Bernstein's Daily Sentiment Indices on the S&P and Nasdaq. Bullishness among traders for the past 3 days has gotten to the upper 70's. A very profitable 6 days.
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