Discussion in 'Trading' started by Jesse J., May 24, 2003.
Over the next few weeks trading, what are you?
On a sidenote, the latest AAII numbers for this week were in Barron's....Bulls down to 38% from 62% last week, Bears were 16% last week, now I believe they are close to 35%...So it looks like the break from the highs got the majority bearish...
they are way too volatile, and not representative of the true sentiment.
Readings from AAII can vary 20-30% a week. For example, I wouldn't be surprised if the latest numbers you gave were 20% changed in the coming week.
Plus you're dealing with indivdual investors, who are quite fickle. A much better barometer is the sentiment of fund managers, who pick a direction, and by and large, stick to it for a few weeks.
Re: daytrading.The daily ranges are tight, triangles on all the indices, when it pops it'll be a nice one because either way there'll be many on the wrong side of the move. I don't know what to do yet but for some reason a short bias here feels like a trap. I'll let the mkt show the way and try not to get faked out of my jock. I'm staying long in weekly and monthly accounts. Tough call, lotta tension here.
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