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I do not believe that just because there are folks that are bearish that it
means
necessarily that these all of these folks are short (and thus will not help
propel this bubble even higher.) No matter how ridiculously high this
market gets, I would bet that the vast majority of the folks who are
bearish today will not suddenly become bullish. They are bearish for a
reason -- the fundamentals are so far out of wack. If the market climbs,
they will only become more bearish.
The idea that everyone must be bullish for this mania to end is a
misconception.
James
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At 04:36 PM 12/23/99 -0600, you wrote:
>Pretty bullish sign for so many on the list to be worried. It is hard for
>me to believe but if we are 53% or so bullish at new highs we should go to
>60% bullish in a big hurry with a big move in the stock market. So says a
>man that is flat and his last three trades were shorts and now clearly
>should have been longs. Correction I was testing my countertrend trading
>system to stress test my equity.
>
>Bottom line I'm bearish and that always means there is more upside to go.
>Merry Christmas,
>Jimmy
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