AI
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| Alias Born | 04/01/2000 |
Friday, July 11, 2008 3:40:21 PM
I think we are working our way to a good bottom but we may not be there yet. We have even more bearishness than we saw in the Investors Intelligence Poll in March. Fully 47% of the Newsletter Writers are bearsih:
http://www.schaeffersresearch.com/streetools/market_tools/inv_intel.aspx?click=jumpto
The level of fear being reflected in the charts may have to spike nearly as high as it did back in March before this ends however:
Also I think the CPC may have to go higher as well. High enough to move the sma's well over 1.2:
Not here that the 60 day sma may need to hit 1.1 before we get a lasting bottom:
On the plus side we are extremely oversold:
http://www.schaeffersresearch.com/streetools/market_tools/inv_intel.aspx?click=jumpto
The level of fear being reflected in the charts may have to spike nearly as high as it did back in March before this ends however:
Also I think the CPC may have to go higher as well. High enough to move the sma's well over 1.2:
Not here that the 60 day sma may need to hit 1.1 before we get a lasting bottom:
On the plus side we are extremely oversold:
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