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To: patron_anejo_por_favor who wrote (256909)	8/20/2003 8:02:03 PM
From: orkrious	Read Replies (1) \| Respond to of 436258

Date: Wed Aug 20 2003 15:50 trotsky (Investor's Intelligence poll) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved an amazing datum: over the past 13 weeks, there has only been ONE week when II bears edged slightly over 20%. this week they're coming in again at just 18.1%, with over 55% bulls. an interesting sidenote in this context is that for the past 9 weeks, the stock market as measured by the SnP has gone sideways. sideways consolidations are a good spot to divine the next big move, by using sentiment and positioning data. if skepticism increases during a sideways consolidation, odds are the next leg will be an upleg, and vice versa. sentiment as measured by II hasn't been this lopsidedly bullish for over 16 years, or shortly before the '87 crash. and small traders now hold one of the largest net long positions in the big SnP and NDX contracts in history. otoh, many individual stocks still sport healthy looking put/call OI ratios, which tends to lend support to the market. BUT - this can also lead to an accelerated delta-hedging sell-off if/when certain supports break. it could become an interesting autumn.

To: patron_anejo_por_favor who wrote (256909)	8/20/2003 8:03:58 PM
From: MythMan	Read Replies (1) \| Respond to of 436258

LOL