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To: High Country Trader who wrote (56801)	10/16/2002 7:57:36 PM
From: Doo	Read Replies (1) of 209892

Thanks for making me check my source, a table in Martin Zweig's, "Winning on Wall Street".... The sub-30% numbers from 1965-1990 are calculated as a percentage of the total number of committed advisors in the IIA survey. In other words, throwing out the "correction" fence sitters, the percentage of bulls to total bulls and bears was sub-30 percent bulls 12 times during that period. What was posted earlier is the weekly reading Bulls 28.4%, Bears 43.2%, Correction 28.4% which, under the Zweig table is just shy of 40% Bulls this week (if my math is correct). Zweig's table lists this ratio of "Extreme Pessimism" as high as 53.6%, and as low as 13.7 in the table. I don't have the data to confirm your comment that IIA bulls were below 30% at least 100 times as a straight percentage of bulls out of 100%. Sorry for the confusion.

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