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Traders,
This looks like one of those weeks where the sentiment numbers have some
value...
good trading,
Jeff
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LOWRISK.COM
INVESTOR SENTIMENT SURVEY
5 / 17 / 98
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Below are the results of our weekly "Guess the Dow" sentiment survey. The
survey was taken from 5/11 through 5/17 on our web site.
Number of participants: 395
30 day outlook:
31% bullish, 41% last week
42% bearish, 35% last week
27% neutral, 25% last week
(percentages may not sum to 100 due to rounding)
Median guess for the DJIA closing value on Friday, 5/22: 9100 (it was 9123
last week). More complete sentiment data is available at
<http://www.lowrisk.com/sentiment.htm> .
The bulls went into hiding this week, dropping 10% to 31%. Bears increased
7% to 42%. The neutral camp stayed pretty much even, gaining 2% to 27%.
Given that the DJIA was UP modestly last week, there is only one way we can
interpret these numbers - they are very BULLISH. When we see these types of
numbers we start looking for some type of a bottom in the next couple of
days of trading.
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
best regards,
Jeff Walker
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