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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?


To: Lone Ranger who wrote (2590)6/16/2003 2:19:38 PM
From: Math Junkie  Read Replies (2) | Respond to of 10065
 
It will always be true that bullishness will be high at tops and low at bottoms, because price and sentiment are just two ways of measuring the same thing: how investors feel about the market. Where the uncertainty comes in is that bullishness never goes all the way to 100% or 0%, which leaves room for the peaks and valleys of investor sentiment to occur at different percentages on successive cycles. On the following chart, for example, you can see that the maxima and minima of bullish percent on SPX have occurred at several different levels over the past two years.

stockcharts.com[h,a]waclyyay[pc4][vc60][iUb14!La12,26,9]&pref=G



To: Lone Ranger who wrote (2590)6/17/2003 2:25:14 AM
From: augieboo  Respond to of 10065
 
LR, thanks for clarifying. BTW, I agree with your theory. (: