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Bullish sentiment may be high but in fact, shorting is robust and getting
stronger. So do we go by what people say or what they do?
Bob
At 02:52 AM 5/23/2003 +0400, you wrote:
>Hello Mark,
>
>%Bearish today is lowest since 1991:
>
>http://www.schaeffersresearch.com/streetools/inv_intel.asp
>
>". High readings suggest excessive optimism, which typically occurs
>when buying strength has been tapped out, and low readings represent
>depleted selling strength, and tend to precede market rallies. We
>normally view a bullish percentage higher than 55 combined with a
>bearish reading lower 30% as bearish for the market."
>
>
>Best regards,
> Alex mailto:alex_bell@xxxxxxx
>
>
>Thursday, May 22, 2003, 9:36:17 PM, you wrote:
>
>MS> You meant "higher high", right ?
>MS> Don't underestimate the bulls....they are wildly optimistic right
>MS> now.....and holding this market up.
>MS> Bull-Bear survey ratio now at the highest point in years....
>MS> -----Original Message-----
>MS> From: none [mailto:profitok@xxxxxxxxxxxxx]
>MS> Sent: Wednesday, May 21, 2003 10:40 PM
>MS> To: realtraders@xxxxxxxxxxxxxxx
>MS> Subject: Re: [RT] spx daily
>
>
>MS> Hello
>
>MS> I am with you that there is a high probability that we make a
>lower high
>MS> tomorrow or Fri. and then collapse
>MS> Ben
>MS> ----- Original Message -----
>MS> From: Rhonda Guilbeaux
>MS> To: realtraders@xxxxxxxxxxxxxxx
>MS> Sent: Wednesday, May 21, 2003 7:37 PM
>MS> Subject: [RT] spx daily
>
>
>MS> Last quarter's candle waist 882.
>MS> right at the 200 dma area.
>
>MS> Higher support..at the 898 area.. (near the rising 50dma)
>MS> Wouldn't be surprised to see this price level tested.. and also to
>MS> hold, initially
>MS> anyway.
>MS> if not, 867-882 looks to be a good higher support area.
>MS> Breaking above last weeks highs and more important
>MS> 953-955 then I am incorrect in my assessment that last week's
>MS> high is "semi" important and perhaps
>MS> a slightly stronger pullback than what
>MS> we've seen thus far coming off the
>MS> March higher low.
>
>MS> Tend to think any high made latter week
>MS> will be a lower high than last weeks
>MS> high as
>MS> last weeks low was broken below.
>MS> I do
>MS> Best,
>MS> Rhonda
>
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