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To: Wally Mastroly who wrote (6450)7/1/1999 10:21:00 AM
From: Kirk ©  Respond to of 15132
 
Wally -> Anecdotal sentiment-

I friend who was a trader for a large firm on the SF Peninsula retired yesterday to windsurf, relax and enjoy life. After sailing yesterday he told me that the sentiment among the "professional traders" was bearish. A single data point and should be treated as anecdotal at best, but it sure beats "everyone thinks the market will only go up".

Also, Hulbert has been on CNBC and he has been saying for the past several months that people may report they are bullish but he actually calls their hot lines and records how they are investing. He has said that the bullishness is much less than reported by II. I believe many are often playing for corrections, but want to be on record as bulls for the long term.

FWIW...



To: Wally Mastroly who wrote (6450)7/1/1999 10:23:00 AM
From: Wally Mastroly  Read Replies (1) | Respond to of 15132
 
NAPM - Manufacturing surges - bond market doesn't like it:

Summary from CNNFN (click on full story link when it appears):

cnnfn.com

Manufacturing activity grew at a stronger-than expected pace in June, a report said Thursday, pointing to little if any slowdown in the economy at the end of the second quarter.

The National Association of Purchasing Management said its index of
manufacturing rose to 57 in June, higher than forecasts of 54.4.

Separately, spending on new construction fell 0.9 percent in May, the government reported.

Some "instant" views developing:

biz.yahoo.com