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To: LLCF who wrote (65748)2/8/2001 10:47:18 AM
From: pater tenebrarum  Read Replies (1) | Respond to of 436258
 
yes it does. however, sentiment extremes are back in full force...WS asset allocation models are now on average 70% in equities, the highest ever. Consensus Inc. bulls are back at 58%. AAII has as of this morning 56% bulls and only 14% bears. II reported the biggest bull percentage in 14 years yesterday.

a rally with this combination (not to forget the biggest speculator net long in the spoos ever, and extremely low Rydex ratios) can't go very far imo. in fact, the surprises should be to the downside, especially as the public bought the recovery heavily (the biggest inflows once again coinciding nicely with the Jan. 24 NDX top, which remains comfortably above current levels).

so i wouldn't throw the towel quite yet...admittedly though the sentiment data are not very useful in precise timing.