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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (591)	5/20/2002 11:11:29 AM
From: Lone Ranger	Read Replies (1) \| Respond to of 30712

Justa, Speaking of sentiment this is a quote from the TA guy at SP named Arbeter dated 5/20/02.... "Sentiment remains a mixed bag with short-term investment polls at their most oversold levels (low bullish sentiment, which is positive) in months and Investor's Intelligence (intermediate-term poll of newsletter writers) overbought or way too bullish. The MarketVane poll is showing only 20% bulls, the lowest since the market bottom in September, 2001. The Consensus poll is at 21% bulls, the lowest level of bullishness since the market bottom in April, 2001. Both these polls are certainly a positive for the market. However, Investor's Intelligence is still showing 52.1% bulls and only 29.8% bears. Amazingly, this poll has barely budged over the last 10 weeks, a period of weak index performance. During that time, bullishness has ranged from 51.6% to 54.8% and bearishness has moved from 28.4% to 30.2%. All the more incredible, the major averages have been in major downtrends for over two years and yet newsletter writers remain bullish." The last part of this I find amazing. ie "All the more incredible, the major averages have been in major downtrends for over two years and yet newsletter writers remain bullish." Amazing in a more than two year bear, they're unfazed. Talk about major complacency.