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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: chris714 who wrote (25796)	10/16/2002 4:06:44 PM
From: dennis michael patterson	Respond to of 34824

Can you imagine if they took the survery yesterday at 4 pm?

To: chris714 who wrote (25796)	10/16/2002 9:16:11 PM
From: Bwe	Respond to of 34824

You're right, Chris. The IIA numbers are done on Fridays. "The bulls had a nice drop to 28.4% this week, while the bears rose to 43.2%. Keep in mind that the vast majority of newsletters we follow were written before the big rally that started last Thursday. The bears moved up to 43.2% and these are the most bears since 10/2/98. The break in the averages to new lows is responsible for the increase in pessimism and is a good short-term sign. This is the sixth week this year that there have been more bearish advisors than bullish ones. This reading can be viewed as short term bullish, but it must be kept in mind that major bear markets do not end without seeing a much higher reading for the bears. It would be a good sign if advisors do not rush to the bullish camp as the rally continues. They have been excessively bullish for the last four plus years." Chartcraft 10/16/02