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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Tom Pulley who wrote (83815)	5/7/2003 2:52:46 AM
From: Psycho-Social	Read Replies (1) of 99985

Trader Sentiment: Jake Bernstein's indices of trader sentiment are getting overbought in a major way, especially the Nasdaq sentiment. I'm still 0% Stocks, 60% Money Market, 40% Bill Gross's PIMCO Total Return. Just getting caught up after a weekend convention, but I'd like to see data later in the week showing better $ flows into stock funds, and a further rise in the average of 3 Market Sentiment surveys I follow before declaring that all the stars are lined up against the Market. The 3-5 wk effect of the Fear Factor calls for a high by mid May (There was a high in the indicator just before mid-April, as the fall of Baghdad caused a feeling of national invincibility.) so things are falling into place. I dont/cant short the Market, but if I could, I'd be doing so incrementally, and saving some short side $ till those final nails are driven into the coffin.

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