Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Secret_Agent_Man who wrote (270778)	12/15/2003 9:12:43 AM
From: orkrious	Respond to of 436258

jeff cooper this am Below, you will find what I believe is an important comment from Dave Reif's monthly report to clients at Mutual MoneyFlow Management: Bullish sentiment has increased to levels that were not even experienced in the heyday of the mania bull market in late 1999 and early 2000. For example, on a 25-week basis, the American Association of Individual Investors' survey shows a level of bullishness among ordinary individual investors has averaged 55.6%, well above the record of 52%, which was established right after the all-time peak in the first quarter of 2000. In addition, the Investors Intelligence survey of Investment Advisors has been very bullish for 31 straight weeks, which is also an all-time record going all the way back to 1963. Why is this important? These are what we call contrary 'indicators'; they reflect how the mass of investors are feeling ... either scared or greedy. We as technicians want to lean against the majority as the majority is almost always wrong when it comes to the stock market. They can be right for a while, but in the end (i.e. the tech bubble of 2000), they end up dead wrong. I think this level of bullishness is occurring because the majority really never got out. Massive mutual fund liquidation never really occurred. Consequently, what we have is that people want to see the market higher, and it has become a self-fulfilling prophesy