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Below are the results of our weekly "Guess the Dow" sentiment survey.
The survey was taken from 10/13 thru 10/19 on our web site. If you
would like to participate in this weeks survey/contest, stop by
<http://www.lowrisk.com/guess.htm> .
Number of participants: 369
30 day outlook:
33% bullish, 44% last week
29% bearish, 42% last week
38% neutral, 14% last week
(percentages may not sum to 100 due to rounding)
Median guess for the DJIA closing value on Friday, 10/24: 7989 (it
was 8098 last week). More complete sentiment data is available at
<http://www.lowrisk.com/sentiment.htm> .
This weeks sentiment numbers continued to turn more bearish this week.
Bulls still outnumber the bears slightly, but bullish sentiment
dropped to 33%. This is the third lowest reading since our sentiment
survey started in early May. It is worth noting that the two readings
that had lower bullish reading was 8/15 and 5/16. Both of those marked
great buying opportunities. Mitigating this cause for contrarian glee
is the fact that bearish sentiment actually dropped substantially -
from 42% to 29%. The big gainer for the week was the neutral camp,
which jumped from 14% to 38%. This is the highest neutral reading we
have ever had. We are not quite sure what to make of this surge of
indecision. Could it be a fall out of the 10th anniversary of the
crash?
Winners of our weekly "Guess the Dow" contest receive a complimentary
quarters subscription to the RBI Trader's Weekly. If you would like to
try this weeks "Guess the Dow" contest, stop by our site at:
<http://www.lowrisk.com/guess.htm> .
good trading,
Jeff Walker
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RBI Trader's Weekly
http://www.lowrisk.com
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