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Again,...Significant from a contrary perspective and in synch with other
Weekly Surveys, ....such as Consensus % Bulls Stock which came in at only
19% Bulls last week....again indicating sentiment here is firmly
"underbelieved".
Best Regards to all. Jim Pilliod
LOWRISK.COM INVESTOR SENTIMENT SURVEY 5 / 22 / 2000
Below are the results of our weekly "Guess the Dow" sentiment
survey. The survey was taken from 5/15 through 5/21 on the
Lowrisk.com web site.
Number of participants: 289
30 day outlook:
19% bullish, 43% previous week
54% bearish, 54% previous week
27% neutral, 4% previous week
Last week's sentiment numbers showed a mass exodus of bulls, but
they couldn't bring themselves to actually put themselves down as
bears. Instead, they joined the neutral camp. Bullish sentiment
dropped 24% to a very low 19%, while the neutral reading jumped 23
percentage points to end at 27%. Meanwhile, the bears stayed dead
even at 54%.
Last week was a rock and roll week for the markets with a down bias.
The market started off strong early in the week, and then turned
around and gave it all back later in the week. The Dow managed a
small gain, while the SP500 and Nasdaq gave up ground. With a mixed
market, it makes reading the sentiment numbers somewhat problematic.
However, these numbers are starting to get fairly extreme...we have
lots of bears and not many bulls. This is the third consecutive week
with a bearish reading of greater than 50%. In the past when we have
seen those types of numbers we have been within a week or two of a
good bottom.
The number of guesses we have been getting in the last few weeks has
been dropping off. The more guesses we get, the better this
sentiment data is, so please stop by and tell us what you think the
market is going to do: http://www.lowrisk.com/guess.htm
best regards,
Jeff Walker
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