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Strategies & Market Trends : Ask DrBob

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To: Drbob512 who started this subject7/28/2001 10:58:40 PM
From: highyarolla  Read Replies (3) of 100058
 
**Latest Sentiment Surveys**

Bullish numbers in percentages:

Investors Intelligence: 51(moderately high)
American Association of Individual Investors: 25.3(low)
Consensus: 24(low)
Market Vane: 35(moderately low)

The numbers seem to imply a more bearish sentiment than the view portrayed only by the Investors Intelligence poll. Seems like an intermediate-term rally is not far away.

Short-term we have an overbought market on the hourlies combined with a low put-call ratio(.45) on Friday's close. Should we make nominal new lows in the major averages, especially taking out 1935 on the Nasdaq, we may get a mini-capitulation from all those pundits as they say a break of that level means an emminent retest of April lows. Japan or Argentina contributing to the scare would be nice.
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