(Fwd) MKT: sentiment - bears gain -Reply

[Dan Walo <DWalo@xxxxxxxxxxxxxxxx>]

Further to your sentiment analysis indicating a  possible bull move there
was an interesting observation in the Sept 8/97 issue of Barron's (pg 30)
.      Apparently Merrill  Lynch does a survey on stratagist's
recommmendation on the proportion of equity in a balanced fund. The
average stratagist recommendation is about as bearish as it's ever been
-- only about 48% allocated to equities (normal is 60%) . The interview
article says when the measure is this bearish the market has a 20% gain
in the next 12 months.