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Strategies & Market Trends : Ask DrBob

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To: highyarolla who wrote (41561)	7/29/2001 1:23:05 AM
From: CookiePuss	Read Replies (4) of 100058

Your data conflicts with what I've been reading on realmoney.com all week. Perhaps you mean bearish readings are very low which means we have further to fall. thestreet.com "That the major market measures haven't cracked under the intense pressure of horrid profits in an environment where few express any confidence to predict when demand will pick up is seen as a positive sign. However, with these types of sentiment indicators -- an almost three-year low in bearishness reported by Investor's Intelligence, and the American Association of Individual Investors 15.2% bearish reading in its weekly poll -- it's very difficult for me to conclude that the action in the tech sector is rational or positive. Merrill Lynch's survey of global fund managers last week showed that 90% believe that world markets will be unchanged or higher over the next 12 months. Fully 20% said they would be "much higher" than current levels. About 54% of the managers expect profits to head higher, especially in the U.S., which was a 12.5% jump from the previous month. Hope springs eternal, even as time runs out for the mythical summer rally."

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