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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: wooden ships who wrote (5301)5/31/1998 4:53:00 PM
From: wooden ships  Read Replies (1) of 42834
 
The bad new is that those who put their faith or abide their com-
placency in the much vaunted four week moving average sen-
timent indicator will be disappointed with Brinker's declaration
that the Investors' Intelligence one week bullish sentiment reading
of 70.1%* some little while ago heralded, in no uncertain terms,
the current correction in the markets (down 3.5% from the peaks
in both the DJIA and S&P 500 with the Nasdaq off 7% from its
closing high).

The good news is that Brinker interprets the ongoing retrenchment
in the market as only a "short term correction" from the closing
S&P 500 highs achieved on 22 April 1998 and recommends
holding a portfolio dedicated to "quality companies."

* According to Brinker, readings of 70% or better in
the Investors' Intelligence market sentiment indicator
are, contrariwise, not deemed bullish.
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