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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: exp who wrote (25384)	1/29/2002 10:37:08 PM
From: DlphcOracl	Read Replies (1) \| Respond to of 99280

exp: I also read Don Hays' comments and it seems to me that he is selectively ignoring some data and selectively emphasizing others. He states that he is very proud of "fitting the flesh to his skeleton" but nearly every chart he posted on his latest update made a strong, cogent argument for the market going lower, not higher. Nevertheless, he summarily dismissed the extremely low VIX, the Smart Money Index (which showed institutional money selling stocks over the past 5 weeks) and claimed that investors were nervous rather than complacent. Additionally, he apparently does not see valuations being stretched. I must admit, I agree with you. Don Hays is alone on an island and has been unremittingly bullish since March 2000. I believe his comments are best used for a VERY long term approach; he is way off the mark for ST market movements, and not much better for intermediate term.