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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (3788)	4/19/2001 3:35:04 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Investors Intelligence has the bearish percentage up to 42.5% this week......that's pretty darn high, and that's a further reason that we may be rallying on balance into May. But one of the most important indicators out there shifted in a very big way on Wednesday, but because of the Fed's surprise rate cut, no one seems to be mentioning it. The Investors Intelligence bearish percentage surged to levels not seen since October 1998. That reading now stands at 42.5% bears. (And I thought 38% was high when I wrote about it a few weeks ago.) Of course, as with all indicators, we can't look at just one in a vacuum. However, we've been waiting since September for this important sentiment statistic to show us some fear out there, and now we have it.