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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (23720)	8/9/1998 6:30:00 AM
From: Philipp	Read Replies (2) \| Respond to of 94695

The fed cutting interest rates wasn't an option on the survey either. I find it incredible that the majority of respondents expect to see the Dow over 10000. Even Abby Cohen thinks 9300. Note that that particular survey was taken at the end of May/June. There has been a significant shift in opinion (to the worse) since then. See the CNN poll I posted some time ago. If those different surveys are comparable, it indicates a significant shift in inverstors' sentiment. Fed liquidity Hasn't the fed been injecting a lot of liquidity recently? Rather than tightening. It seems to me that the Fed is expecting something very bad to happen. And these people know where the money flow is. Since this has been a liquidity driven market ... Bulls versus Bears There still seem to be a lot of bulls around, but they have become much more moderate. You often hear "the bull is still alive, but gains will be much harder in the future". That sounds like a downgrade from "buy" to "market-perform" to me. All in all, market sentiment is certainly deteriorating at the moment, and it won't need much to break this bull. Short-term: I agree with the majority view on this bearish thread that it is likely to be up. There is some real buying in the market, and a short-term bottom seems to have formed. But I guess this could be very, very short-term (a couple of days). Good trading to all, Phil