Biotech Values

[Shengli]

The extreme bullishness that the poll was talking about was from The American Association of Individual Investors is a nonprofit organization with about 150,000 members. This is a poll that is regularly taken like consumer confidence etc.They are not talking about individual stocks . Market sentiment is used as a contrarian indicator.It is just one measure and there is no one magic bullet for timing the market.Some other indicators pointing to a top is overall market stock volume decreasing .If the price is moving slowly higher, but volume keeps dropping off that could be another indicator of a top . The Vix is very low and has been for awhile.Mutual funds cash levels are very low see chart

http://home.comcast.net/~royashworth/Mutual_Fund_Cash_Levels/Mutual_Fund_Cash_Levels.htm

This is negative

Investors can boo hoo all of these indicators seperatly but taken together with our governments excess debt spending which is the main reason we have a plus gdp and soon to run out , Well its smart to hold some cash