Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: da_cheif™ who wrote (7532)	11/23/2001 12:53:54 AM
From: Psycho-Social	Read Replies (1) of 99280

Sentiment Surveys: I don't follow technical methodologies, but follow sentiment data quite closely. While I tend to agree that there's room for higher prices over the intermediate term, I think you may be exaggerating the extent of current bearishness. Jake Bernstein's indices of trader sentiment have recently shown extreme bullishness on the part of traders, which has moderated only slightly during the past week. That's a short term overbought signal. More importantly, the average of 3 sentiment surveys published in Barron' has risen to 51.5% bullish, a mildly overbought intermediate term reading. Due to the implicit or explicit neutral category, the average tends to fluctuate between 20% and 60% bullish. It's currently much closer to the upper end.

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