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

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To: LTK007 who wrote (13998)12/17/2001 7:43:37 PM
From: bobby beara  Read Replies (2) of 99280
 
i thought you always liked being contrary to the crowd? The bull sentiment is heavily in rule now--your just following the crowd now??

Max, i do like being contrary to the crowd, and while some sentiment measures are showing some excesses on the bull side, others are showing more normal readings.

while the equity only put/call ratios have turned down from the may levels, the CBOE combined p/c ratios never made it near the may highs, also the rydex traders are scared poopless, and jump on tempest and cash at any sign of weakness, and as oracl has noted the sentiment on these market direction threads is most vocal on the bear side.

i'm actually not super bullish here, i think we may have made the top for this move already and are in for some correction, i just think all the calls for the market to go to hell in a handbasket are way overdone.

This rally left a whole lot of people flat footed, no bottom we've made since the 00 top has done that.
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