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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: lurqer who wrote (15307)	12/5/2002 10:05:55 PM
From: bobby beara	Read Replies (2) \| Respond to of 19219

Actually this permabear psyche is far too prevalent on SI imo Simply a matter of what is the current dominant trend. Are you familiar with SI in the latter '90s? After all "The trend is your friend ... until the end, when it bends".<g> it's been wrong to underestimate the power of this bear trend, and the levels of bear sentiment that have increased with new lows, just as it was wrong to underestimate the power of the bull trend on the upside in the 90's. sentiment extremes must be made in context with the trend in prices, i'm sure a lot of people thought sentiment was really extreme in 1930 and in 1931. as long as the spx is in the downchannel you have to give the bear the benefit of the doubt, we get hopeful that it's over on the slope of hope, but reality can come crashing down.