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At this site, they show the vix is low and while that is a concern, it is
natural considering the trading range we have been locked into for so
long. Note that it also says that the bullish sentiment is 64% which is
horse pucky .. If you look at the Low Risk Com site at
http://www.lowrisk.com/sentiment.htm , you will find bullish sentiment is
25%, down from 37% the week before and bearish sentiment is at 54%, up from
43%. A major difference in market sentiment and a large hole in the
arguments made at ricchioreport site mentioned below.
The report also refers to a lot of insider selling but that is not
surprising considering the loss of market cap, officer loans coming due and
very possibly margin calls in the tech sector. It further claims that a
majority of jobs are being created by gov spending, (which I doubt). It
talks about a 13 bil increase for consumers for every .10 increase in gas
which equates to an increase of 30 bil over the past month .. (numbers
which seem to not take into consideration gov or business fuel), but this
is not a panic number in today's America and finally numbers showing an
increase in private debt. (If included in this number, housing would
account for a great deal of this number due to low rates and the boon in
new construction). I just glanced at the number but it looked like a .04%
increase over the past 30 days or less than 5% annual. I would make a bet
that the guy who set up this site is short however. :))
Anyway, the consensus number is keeping me from doing much shorting right
now. Once again, I am more than 80% cash and doing some daily scalps while
I look for something to happen which will warrant an actual investment.
Oh, and thank's for your post and the site address rjv
Good trading all,
Bob
At 11:45 PM 4/9/2002 -0400, you wrote:
>There's been some talk on RTs that they'll be a pop higher in the
>market. That may be true, but I think the bias is down; and there are
>several reason I have for this. Since my market opinion is based on
>subjective interpretations of charts, I'll keep these views to myself
>for now. However, as I browsed the Yahoo chat boards tonight I came
>across an interesting site of which I have no knowledge of the creator,
>but the conclusions make clear sense to me. The page is called the
>Ricchio Report. Judging by the counter at the bottom of the page, it
>doesn't get much traffic. If anyone is interested, they can navigate to
>it via the following link.
>
>http://www.ricchioreport.com/
>
>
>
>To unsubscribe from this group, send an email to:
>realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
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