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Non-Tech : Investor Sentiment

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To: Steve Lee who started this subject7/5/2002 6:51:36 PM
From: davidk555   of 53
 
Sentiment was much more bearish at the end of this quarter versus the prior quarter. From a contrarian standpoint, that is a good thing, and in my view supports the summer rally thesis. Here are the numbers from my newsletter:

*****************
Sentiment
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Investor Sentiment has become much more bearish as the market declined near its September, 2001 lows. The increase in bearish sentiment becomes very obvious when you compare the sentiment data at the end of this quarter, to the end of the first quarter. Here is a snapshot of some of the sentiment data to give you a flavor for the difference over the last three months in sentiment:

------------------------------March 29, 2002-------- June 28, 2002

VIX-----------------------------19.32 --------------------29.13
VXN---------------------------36.28-------------------- 63.13
10-day Put/Call Ratio-----.72------------------------ .89
Investors Intelligence ----51.6%bullish----------------42.4% bullish
Market Vane------------------44% bullish-----------------25% bullish

As you can see, the bearish sentiment has risen significantly since the end of the last quarter. From a contrarian standpoint, this is bullish for the stock market.

my e-mail: davidk555@earthlink.net
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