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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

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Nov 28 4:00 PM EST

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To: HairBall who wrote (11683)	4/21/1999 11:52:00 AM
From: pater tenebrarum	Read Replies (2) of 99985

LG, investors intelligence (newsletter writers): 55,9% bulls, 30,5% bears. while bearishness according to this measure is by no means excessive, it is still large enough to suggest that there is buying power left. AAII-index: 41% bulls, 28% bears. at tops you have the bulls in this measure usually at 70% or more. the OEX put/call ratio shows extreme bearishness among options traders for several weeks now. several wall street firms have cut their equity allocation in recent weeks. large futures speculators have been net short approx. 20,000 spx contracts for 4 weeks in a row. a bunch of prominent analysts is forecasting a 10-20% correction since approx. dow 9.200 (dick mccabe of MER, peter canelo of MWD,and a few others) there you go. bearishness is still in fashion. regards, hb

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