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Wall Street History
https://www.gofundme.com/s3h2w8
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02/28/2003
Bull / Bear Readings, Part II
As I noted last week in part I of my little study on investor
sentiment, as represented by the “Investors Intelligence” survey,
this is but one indicator that some Wall Street strategists and
investors employ.
Picking up where I left off, following are some readings for the
past 7 years. I tried to show some key reversal dates (remember,
this is generally viewed as a ‘contrarian’ indicator), as well as
give you a sense what sentiment looked like at key market levels.
[For a full description of this topic, go to the archives tab below
and view last week’s edition.]
Date ..Bulls .Bears .Dow Jones
2/9/96 53.8 .29.4 ..5541
8/2/96 40.8 .43.4 ..5679
1/31/97 ..54.3 .26.7 ..6831
4/11/97 ..35.0 .41.4 ..6391 crossover
4/3/98 53.2 .22.6 ..8983
4/24/98 ..54.6 .23.1 ..9064
9/4/98 40.7 .43.2 ..7640
9/18/98 ..36.4 .47.5 ..7895
11/27/98 57.9 .29.8 ..9333
2/12/99 ..61.2 .25.9 ..9274
5/7/99 58.6 .27.6 .11031
9/3/99 42.9 .31.9 .11078
12/31/99 55.0 .27.0 .11497
1/14/00 ..54.5 .26.5 .11722 all-time high for Dow
3/10/00 ..53.4 .27.6 ...9928..but Nasdaq hits high of 5048
3/24/00 ..55.7 .26.4 .11112 incredible volatility
5/26/00 ..46.0 .32.4 .10299
9/1/00 47.1 .33.7 .11238 all indices had rallied back
12/29/00 51.4 .36.2 .10786
2/2/01 61.0.....30.0 .10864 61.8* the following week
4/27/01 ..43.9 .41.8 .10810
7/13/01 ..51.0 .25.0 .10539
9/21/01 ..35.7 .37.6 ..8235 post-9/11, market reopened
12/28/01 48.4 .27.3 .10136
1/25/02 ..52.6 .23.7 ..9840
7/19/02 ..35.4 .39.6 ..8019
8/30/02 ..45.7 .31.5 ..8663
10/18/02 28.4 .43.2 ..8332 market bottomed 10/9-10/10
12/6/02 ..51.1 .25.0 ..8645
*All-time high ‘bull’ reading since I’ve been tracking this
barometer, 3/90. The all-time low for the ‘bears’ during this
same period is the 19.1 reading registered the week ending
1/24/92.
Wall Street History returns next week.
Brian Trumbore
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