Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

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To: Kirk © who wrote (3985)	4/8/2016 12:06:46 AM
From: Return to Sender	Read Replies (1) of 26763

I hope no one takes Citigroup's Panic reading currently as being able to forecast anything. Here is an article that has a long term chart of the indicator: advisorperspectives.com The article is from 2011 but I will take a snip out of it: On January 20, 2008, the New York Times, in Burned but Bullish at Citigroup, reported that Mr.Levkovitch, the model’s originator, predicted a 26% gain for the S&P 500 by the end of 2008. This would be consistent with the model’s forecast at the time. We know now what really happened – 12 months later, the market was about 40% lower. Kirk, contrarian sentiment is something I very much believe in. From a contrarian basis the Investors Intelligence Poll is still the best of the bunch but even it can forecast a bottom way too early. I hope you will throw out the Citigroup Panic/Euphoria Chart though as it has next to no value in my opinion. RtS

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