Bears Back in Vogue in Poll

03/05/07 - 02:52 PM EST

David Morrow

The bears are sitting back atop the sentiment mountain in TheStreet.com RealMoney Barometer market poll.

The bears' victory not surprisingly follows the worst week for the stock market in a few years.

The poll's turnout also was huge, with 2,603 votes and more than 1,000 of those bearish. The bears ended up with 1,133 votes (43%), while the bulls scored 694 (27%) and neutral got 776 (30%).

The sectors shook out the same way they have for four weeks now: Precious metals was the most bullish one and homebuilding the most bearish.

Other sectors that fared well were integrated oil and beverages and food products, the latter's showing likely due to some investors making a flight to safety.

Other bearish sectors were investment bankers and brokers, and commercial banks.

The U.S. market is coming off a week in which the Dow Jones Industrial Average tumbled 4.2% and the S&P 500 dropped 4.4%, the worst weekly performance for both since early 2003.

The Nasdaq Composite plummeted 5.9% to notch its highest weekly percentage loss since August 2004.

Asian shares, whose volatility last week pressured the U.S., lost ground again as the Japanese yen rallied against the world's major currencies. The Hang Seng in Hong Kong was hit hardest, down 4%. The Shanghai and Shenzhen 300 slumped 1.3%, and Tokyo's Nikkei 225 slid 2.3%.

Stocks were mixed in recent trading Monday. The Dow was up 29 points to 12,142.86, while the Nasdaq was off 7 points to 2360.76, and the S&P was lower by 2 points to 1385.18.

Crude oil futures were trading substantially lower on Monday. Light, sweet crude for April delivery was recently trading at $60.27 a barrel, down $1.37.

Below are the complete poll results.

Date Bullish Bearish Neutral Week Ending
S&P % Change
Bullish
Sector
Bearish Sector
March 5 694 (27%) 1,133 (43%) 776 (30%) Precious Metals Homebuilding
Feb. 26 577 (39%) 451 (30%) 463 (31%) - 4.4% Precious Metals Homebuilding
Feb. 20 339 (46%) 158 (22%) 229 (31%) - 0.3% Precious Metals Homebuilding
Feb. 12 348 (25%) 618 (44%) 423 (30%) + 1.2% Precious Metals Homebuilding

Sector Total Votes Percentage
Aerospace and Defense 99 4%
Airlines 19 1%
Automobiles 17 1%
Beverages and Food Products 260 10%
Biotechnology 57 2%
Commercial Banks 73 3%
Computers and Peripherals 27 1%
Consumer Nondurables 131 5%
Energy Equipment and Services 221 8%
HMOs and Hospitals 66 3%
Homebuilding 35 1%
Insurance 47 2%
Integrated Oil 297 11%
Internet, Software Services 48 2%
Investment Bankers and Brokers 172 7%
Media 15 1%
Multiline Retail 11 0%
Pharmaceuticals 100 4%
Precious Metals 315 12%
Semis, Semi Equipment 73 3%
Telecom Equipment 48 2%
Tobacco and Alcohol 199 8%
Utilities 230 9%
Wireless Communications 38 1%
Source: RealMoney.com

Sector Total Votes Percentage
Aerospace and Defense 25 1%
Airlines 141 5%
Automobiles 155 6%
Beverages and Food Products 27 1%
Biotechnology 42 2%
Commercial Banks 282 11%
Computers and Peripherals 91 4%
Consumer Nondurables 46 2%
Energy Equipment and Services 34 1%
HMOs and Hospitals 16 1%
Homebuilding 562 22%
Insurance 24 1%
Integrated Oil 88 3%
Internet, Software Services 98 4%
Investment Bankers and Brokers 301 12%
Media 25 1%
Multiline Retail 97 4%
Pharmaceuticals 43 2%
Precious Metals 194 7%
Semis, Semi Equipment 154 6%
Telecom Equipment 47 2%
Tobacco and Alcohol 19 1%
Utilities 44 2%
Wireless Communications 34 1%
Source: RealMoney.com
David Morrow is editor-in-chief of TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, though he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. He appreciates your feedback; click here to send him an email.
Your Recent Quotes: Quote Up0 | Quote Down0
Dow S&P 500 NASDAQ
Oil*
Gold
10 Yr
0.00%
%
%
%
Data delayed 20 min
Sign up for our FREE newsletters now. See All

  • Cramer's Daily Booyah!
  • Before the Bell

Premium Stock Ideas
Access Action Alerts Plus to find out Cramer’s latest picks now!