|
PureBytes Links
Trading Reference Links
|
At 08:45 AM 2/17/98 -0700, Jeff Walker wrote:
>
>Below are the results of our weekly "Guess the Dow" sentiment survey. The
>survey was taken from 2/9 through 2/15 on our web site.
>
>Number of participants: 385
>
>30 day outlook:
>
>51% bullish, 56% last week
>26% bearish, 20% last week
>24% neutral, 24% last week
>
>(percentages may not sum to 100 due to rounding)
>
>Median guess for the DJIA closing value on Friday, 2/20: 8238 (it was
>8095 last week). More complete sentiment data is available at
><http://www.lowrisk.com/sentiment.htm> .
>
>Bullish sentiment DROPPED 5% to 51% last week. Bearish sentiment rose 6% to
>26%. The neutral camp stayed even at 24%. While 51% bullish is a very high
>reading, it is not dangerously high. Given the dramatic melt up in the
>market last week, this drop in bullishness is sup rising. With this
>tempering of euphoria last week, we suspect that the market still has some
>room on the upside.
>
>To try this week's contest, stop by: http://www.lowrisk.com/guess.htm
>More sentiment data is at: http://www.lowrisk.com/sentiment.htm
>
>I am now publishing this data on a weekly basis via a mail list. To
>subscribe send email to
>wml-request@xxxxxxxxxxxx with the word "subscribe" in the body of the
message.
>
>best regards,
>Jeff Walker
>
>jwalker@xxxxxxxxxxx
>
>http://www.lowrisk.com
>
Jeff:
Surely these 356 did not change their minds over the weekend.
The larger universe of readings point elsewhere. See the last
Barrons.
The NYSE members' activity last week had specialists
buying to the tune of 402 M shares versus 426M the previous week.
Member short sales 337M v 263M.
Customer odd lot activity was 11M versus 9M.
Amex members' activity was 139M v 117m
Member short sales 7.8M v 6.3M
Customer odd lot buys 314,000 v 266,00
Investor's Intelligence readings
Bulls 43.7% versus 41.6% the week before
Bears 32.5 versus 36.3
Consensus Index
Bullish opinion 56% v 42%
AAII Index
Bullish 45% v 30%
Bearos 19 v 25
Neutral 36 v 45
Market Vane
Bullish consensus 67% v 64
I would bet this continues until we have a correction, of which
there are no other signs.
In the meantime we have a trading range in the stock
market. There is a strong need to take a pause. Today's
indices support this.
Pete
petena9090@xxxxxxxxxxxxxx
|