The Justa and Lars Honors Bob Brinker Investment Club Thread Message Board

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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread

VTI 335.42

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Oct 31 5:00 PM EST

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To: Justa Werkenstiff who wrote (2516)	5/21/2003 8:59:12 PM
From: Lone Ranger	Read Replies (1) of 10065

Justa, Sentiment has definitely deteriorated during this rally. There are too many bullish advisors. But sentiment is just one indicator and other indicators of economic cycle and monetary policy, are definitely in the bullish camp. Valuation imo is extreme, but not nearly as much a when the sp500 was trading near its highs. In any case, valuation by itself has little to do with short term market action. I have read that many seasoned experts do not put too much stock in sentiment indicators. Reason being that what people say they will do or what others think they ought to do, is not as relevant as what investors are actually doing. And recently investors are buying the dips, and more importantly not selling. This may change but as of now price action bears this out. Personally, I wish we would have a significant pullback because I would like to jettison some of my short hedge but I think I made the wrong decision as I think pullbacks will be bought more than most realize. If I'm wrong I reserve the right to change my mind<g>.

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