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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Cactus Jack who wrote (36881)	5/13/2001 8:22:47 PM
From: Dealer	Read Replies (1) \| Respond to of 65232

Some more on what signs there were of the bottom. STOLEN From: Jack Hartmann Tuesday, May 8, 2001 9:53 AM Jay Shartsis MARKET 5/08/01 9:29 AM ET I was struck by the sentiment surveys reported in Barron's over the weekend. The big rally in April has resulted in a sharp resurgence of optimism reflected most dramatically perhaps in the "consensus," which found 52% bulls, up from only 10% bulls five weeks ago. That 10% reading, lowest in 18 years, came right at the bottom -- very helpful. The 52% bulls must be rated uncomfortable and not supportive of meaningful upside from here. Another indication that the bull boat has quickly become too crowded again was presented in Mark Hulbert's "Strategies" piece in the Sunday New York Times. He reported that newsletters that focus on timing the Nasdaq increased their equity exposure to 36% from minus 85% on April 10 (negative reading came from short positions). Perhaps a short sharp downside break is needed to reassemble a "wall or worry."