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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (202597)	5/16/2009 10:26:02 AM
From: Perspective	Read Replies (1) \| Respond to of 306849

Old Hulbert - didn't see it posted before: marketwatch.com As I suspected, sentiment has improved much more rapidly this rally than prior "real things". I think this stems from just how you define "bearish". Ask somebody if they're bullish or bearish. If they think the market will likely go down some more, but not enough to threaten their long-term livelihood, they'll say they're bearish but still maintain long-term holdings of stocks. Then if the market bounces, they're quick to jump back aboard. It's only when their long-term livelihood comes into question that they truly fear for the future and cash out at any price. That's a different form of bearish, and when the market bounces then, you find sentiment remains negative because they've sold out of their long-term holdings. That's the kind of pessimism necessary to put stocks at a long-term bottom - one of historical stamina. `BC