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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: MJCok who wrote (9287)	3/26/1999 8:30:00 PM
From: Smooth Drive	Respond to of 99985

Da Bulls and Da Bears, Regardless of what this thread happens to be at the moment, I believe the average investing public is bullish. And - it's most probably justified. But --- I'm not. When the indicators change, I'll change. With permission from CHARTCRAFT/INVESTORS INTELLIGENCE, here's a few highlights from Wednesday's fax. SENTIMENT INDEX 3/26/99 3/19/99 % of Advisors Bullish 55.9 52.6 % of Advisors Bearish 29.7 29.8 % of Advisors Correction 14.4 17.6 You can see the % of Advisors Bullish has risen the last two weeks. This info is based on Investors Intelligence survey of 140+ newsletters. It does not include what the wirehouse talking heads say. Also, these are "For pay" newsletters. Mike Burke reviews the best. Historically, 55.9% is high. I don't know of any source that reports wirehouse TA's views. Probably because no one could report it without snickering. That is, it wouldn't pass the "Giggle test". My guess? From reports in print and TV land somewhere in the area of 90 - 95% are bullish. What else can they say? Mutual fund spokesman, money managers, brokers, what are they preaching? -- there's no commission in being bearish. Most firms don't want their brokers encouraging clients to buy puts or short the market - and I know of a few that forbid it. Virtually everyone I discuss the market with is bullish. They've all learned the mantra "It's never market timing, it's time in the market." "Dollar cost average - both up and down". "Buy big on the dips"....... In the big picture, bears are few and far between right now. Take care, Eric