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To: Henry J Costanzo who wrote (127379)	12/23/2005 10:53:33 AM
From: skinowski	Read Replies (1) \| Respond to of 209892

Agree that it is probably an overstatement to say that sentiment trumped charts, but it is true that sentiment helps a lot at turning points. At the 2003 low, as I recall, some sentiment measures were at a crazy extreme. As recently as at the last October low sentiment was very helpful - a relatively unremarkable low was associated with some rather extreme sentiment measures - sort of out of proportion. Edit - The lows of last April-May were another great example.

To: Henry J Costanzo who wrote (127379)	12/23/2005 12:02:39 PM
From: oexchaos	Read Replies (4) \| Respond to of 209892

I absolutely disagree. We had a clear breakdown at the lows. Instead of shorting, one should have been buying, as became clear after the fact. Regardless, Sentiment is key to reading your charts correctly. EVERY ONE of the best position traders (in the market, not individual stocks and using real money, not just talking) that I know use sentiment to one degree or another. Gary Smith, who uses no indicators and leans heavily to price will tell you of the value of sentiment. Mark