QID - QLD TRENDS (fka )

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Larry, I think we get a short term rally. I just don't think we are at a long term bottom that will typically result in higher prices 2 weeks, 3 months, 6 months and a year from now.

Where is the level of pessimism now? The Investors Intelligence Poll has been bullish for two years in a row now. Market bottoms form when we have more bears than bulls in this poll:

http://www.vtoreport.com/sentiment/sentiment.htm

The volatility indices are still closer to all time lows. These are readings that correlate with nothing remotely resembling a market bottom. But the numbers do correlate to past market tops.

http://www.investorshub.com/boards/read_msg.asp?message_id=5137283

How about Warren Buffett?

Have you read anything he has had to say the last few years?

He does not think the stock market is cheap. He certainly is not buying anything at market prices. Have you heard anything different?

RtS