The Art & Science Of The Trade II

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You Know It When You See it 5/14/2008 11:50 AM

Posted on May 14, 2008

According to the latest Merrill Lynch fund manager survey, only a net 15 per cent of the panel now think stocks are undervalued, compared with 26 per cent in April._____________That's good news for bulls obviously, but it's strange how lifeless this equity market feels on a 125 point DJIA day, and with many stocks showing decent action as shown below, many of which I own.I think it comes back to what I mentioned yesterday -- people are feeling poorer now that home prices are imploding, and they've lost the home equity ATM machine. So from this aspect animal spirits are lacking, and stock...

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