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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (24213)	6/9/2000 11:31:00 AM
From: donald sew	Read Replies (1) \| Respond to of 42787

Terry, No that I consider myself a true contrarian, since I mainly go with my indicators, but from a subjective view market sentiment just seems to be overly bullish again. Im not saying that the market will crash, just that this summer rally may not be as strong as so many expect. For the short-term there are some who are expecting a short-term dip, but the media/analyst/various threads strongly feel that a summer rally is underway and that there is alot more upside. Very few are calling for a crash, which I dont agree with either and only a few are calling for a trading range with little upside. The strong majority are calling for a strong rally. I realise that some BULLs will say that its overly bearish right now, but they are probably the same ones that would call one bearish if one doesnt think the market is going to the moon forever. The contrarian position is either we crash or that this is getting near the end of the summer rally and we just range trade. Im sticking to my trading range trend for the SPX of approximately 1550-1340. Right now the SPX is slightly above the midpoint of that range. So for the mid/longer-term there is probably more upside but not as much as many believe. A stronger contrarian position is that the market is already at the top of the summer rally. Now that would surpise most, if that becomes true. The reasons Im holding onto my belief of a trading range trend is that the period of MAY-OCT is statistically a weaker period of the year and sentiment indicators like the VIX, CBOE PUT:CALL RATIO, RYDEX indicators are so bullish which is bearish for the market. seeya