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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: John Madarasz who wrote (74409)	5/22/2003 6:45:57 PM
From: High Country Trader	Respond to of 209892

Investors Intelligence is one of many things that have differentiated this rally from past rallies since 3/2000. Previously in the past three years whenever II got below 26% bears it was time to blindly short. I will admit though the jury is still out this time around and the shorts could still be proven correct. Some other sentiment indicators the bulls are using to say this is no bear market rally are the Rydex timers who unlike previous rallies, have total disbelief in this one. And then you have the commercials in the large S&P futures contract who suddenly reversed nearly three years of being net short. I haven't a clue where the market is going (and I usually never do) but market action has me long small caps, emerging market bonds, and junk bonds - the latter taking a rest after seven straight months of up action. I don't feel very comfortable being long here but being uncomfortable is normally a good sign I'm on the right side of the market. I can find more reasons it should go down than up though and fully understand where the bears are coming from. If six months from now the Dow is approaching 9500 we will all look back and say the narrowing in credit spreads was the big clue in early 2003 to get long. And John no apologies needed. I wasn't coming down on you, just the site for using limited data. I would hate to see a trader use the info as some absolute and then lose money in the process.