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Strategies & Market Trends : Complacency Indexes

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To: TechTrader42 who wrote (704)3/12/2002 6:27:00 PM
From: bob wallace  Read Replies (2) of 1487
 
wow! this topic is smokin'! haven't looked but it has probably vaulted to the top of the hot list...

anyway...

here is part of a note from Tony Dwyer on RealMoney which offers a possible explanation for the divergence between the CI's for the SPX and the NDX (realizing, of course, the CI's don't actually need any explanation)

Dwyer:

As you hopefully know, I have been a major advocate of buying defensive (relative value) stocks vs. aggressive tech and telecom names. My belief is that near-term this view is too crowded and sets the stage for a correction in Defensive names and technical rally in aggressive names.
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