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Strategies & Market Trends : Raptor's Den II -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (1593)	1/7/2004 11:06:59 AM
From: KevinThompson	Respond to of 3432

Are you dense? I told you, I could care less whether you think your money is smart or dumb. That's a ridiculous discussion anyway. You missed my point completely. An assertion was made that "bears would be crushed because nobody believes in this rally". My ONLY point was that indeed a majority apparently believe in this rally - exactly the opposite of what was asserted. A sentiment index report has bullish sentiment at 62.41%, neutral at 24.11, and bearish at 13.48%. Furthermore, it's been at an extreme for an unprecedented duration.

To: Kirk © who wrote (1593)	1/7/2004 11:34:59 AM
From: bruceleroy1_-	Read Replies (1) \| Respond to of 3432

FWIW, my definition of "smart money" would be someone who is buying when most are selling and selling when most are buying. Buying after the trend is already in place is just going with the crowd. Not that there's anything wrong with that (I use that strategy all the time) but in 1999 and early 2000 everyone would have been called "smart money" according to your definition. Only the ones that were selling out near the top would be considered "smart money" in my book. Or those buying near the lows last year. All just one man's opinion.