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

To: bcrafty who wrote (76688)	6/26/2003 1:40:40 PM
From: Perspective	Read Replies (2) \| Respond to of 209892

<how do you use this information in your trading and how does it help you make decisions on trading, for example a trade you wish to enter today? > It tells you that this is NOT a new bull market, despite popular claims to the contrary. This, and the AAII data, give you a sentiment backdrop from which to gauge larger E-wave placement. How do I use this info? 1. Do not enter into long-term bull trades; any bull trades must be short-term. 2. Upward movement, price-wise, is probably nearly complete if not already there. There are few additional players who can be converted to the bull camp to provide additional upward price movement. Time-wise it could continue for many more months, so you don't enter put options until momentum reverses. 3. Prepare to fade the consensus, because if anything goes wrong, there is an enormous supply of potentially motivated sellers. BC

To: bcrafty who wrote (76688)	6/26/2003 1:42:10 PM
From: Joseph Silent	Respond to of 209892

(OT) bcrafty, cold objectivity is a very rare and more valuable thing than most people realize. We are all conditioned by myth (I use the word in the technical and not the loose sense) and we all tend to hold data up in the light in which we want to see it. Having worked with data, I know it is not easy to look at numbers without an already formed viewpoint, however subtle. To make matters worse, we often know little about the data and how it was collected. The newspapers are a good example of how data-gatherers feed us data with built-in viewpoints.