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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (1480)	9/23/2001 7:25:37 PM
From: Demosthenes	Respond to of 10065

<<followed by total collapse of Russia economically>> Which amounted to approximately 25% of economy of Los Angeles at the time. We all know how dependent the world was on Russia at the time;-) D

To: marc ultra who wrote (1480)	9/24/2001 2:56:31 AM
From: marc ultra	Read Replies (1) \| Respond to of 10065

complacency officially dead. The last vestige of complacency was in the stubbornly odd behavior of the investors intelligence sentiment readings which remained perplexingly bullish throughout this bear market. We finally got a break in that as last week's bulls/(bulls+bears) fell below 50 to a reading of 48.70. The last time we had readings as low as the mid to high 40's on this contrary indicator was near the bottom panicky days in 1998. These numbers might not even include last week's carnage for a number of newsletters. Several major bull markets since 1963 have started from a sentiment reading at around 43% including one 43% reading in Sept, 98 and a couple in the 30% or slightly lower area. I wouldn't make too much a specific number but with the Investors Intelligence now finally consistent with the short term contrary indicators it has to be viewed as a strong bullish sign for a rally. Whether the rally is the start of a bull market or a bounce prior to a final bottom I don't think these indicators alone can clearly say but more evidence we are about to go up. I think the fundamentals for the market were healthier in late 1998 albeit with a lot of scary noise, than they are currently. Marc