Thoughts from the Frontline

Bull or Bear?

By John Mauldin

January 12, 2001

Bull or Bear?
Investment Sentiment Gets Stronger
Sector Rotation Model Switches
Eurobonds
See you in DC for the Inaugural
Answering your questions, and more…

The Millennium Wave Sector Model has switched into the Rydex Energy Services fund (RYVIX)

First, I can count to five. I know last issue I said the four most dangerous words are "This time it is different" -- is five words. But I meant to write "This time it's different." I promise you if you look at the punch ballot, you can see the dimpled chad which clearly indicates I meant to use the contraction. And besides, there was a crowd outside my office, etc. I hate it when I make mistakes so publicly. I guess it comes with the territory. Now, on to the markets......

The Millennium Wave Investor Sentiment Index is 81.2, trending up
The Millennium Wave Sentiment Momentum Index is 49, trending up
The Millennium Wave Sentiment percentage Uptrends is 20.72, trending up

Recession? What Recession? I know I keep repeating that I do not believe the NYSE stocks will experience a bear market until enough investors believe there will be a recession or at least a serious slowdown. Our Investor Sentiment data…

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