Equity P/C ratio: 0.81. Buy.
OEX PC ratio: 0.88. Weaker Buy.
OEX 10-day PC ratio: 1.18. Neutral.
OEX $-weighted* P/C ratio: 2.64. Buy.
QQQQ $-weighted* P/C ratio: 1.23. Neutral.
ISEE Sentiment Index: 74. Buy.

Lazlo Birinyi reported that Bulls were at 18.18% and Bears were at 50.00% in his poll. Many more Bears than Bulls, and that’s solidly Bullish.

Over on Traders-Talk (I’m affiliated with that site, too), the Weekly Fearless Forecaster poll had 57% Bears. The problem is, short term, there were too many partially long Bulls. That indicated that there are too many weak handed Bulls in the market, which “someone” is almost always willing to exploit.

I’d say we’ve got a set up for a low, soon, but weaknes may be first.

On the flipside, it would be interesting to know the equity allocation % of the top 10 market timing newsletters during the recent market bottoms on 1/18/08 and 3/20/08.

One would assume that the equity allocation% would be more bullish during market bottoms so it would be interesting to see if the readings were greater than the current reading of 78% during those dates.

Maverick

Do you know what the equity allocation% of the 10 market timing newsletters with the best risk adjusted performance was in October 2007 and later December 2007.

It would be interesting to know what their equity allocation% was at the peaks prior to the market downturns.

Thanks,
Maverick