Editor's Desk
It's Bulls Once More in Poll
David Morrow
01/22/07 - 01:23 PM EST
Those taking our weekly market poll see no reason not to be bullish.
For the 15th straight week, voters in TheStreet.com RealMoney Barometer survey see the market rising. Of the 1,459 who participated, 40%, or 528, expect the market to rise this week. Neutral sentiment came in at 36%, or 520, and bears registered 24%, or 357.
The numbers likely show that while most folks still are bullish, there is an increasing caution out there.
In the sectors, energy equipment and services was tapped as most likely to rise this week, with semiconductors and semi equipment picked as most likely to fall. Other bullish sectors were integrated oil and biotechnology. Integrated oil also was a bearish sector, as was homebuilding.
Tech stocks were pounded last week, and the chip sector in particular took a hit on a dim outlook from Lam Research(LRCX).
In the news Monday, Pfizer(PFE) unveiled its latest cost-cutting plans, saying it will slash its workforce by 10%, or 10,000 jobs, by the end of next year.
The company said it hopes to save between $1.5 billion and $2 billion a year by the end of 2008.
The New York-based drugmaker made the announcement ahead of a Monday afternoon meeting with securities analysts. Pfizer said the cutbacks include the layoff of 2,200 salespeople as announced late last year.
The stock market was selling off on Monday. The Dow Jones Industrial Average was trading down 105 points to 12,460. The Nasdaq Composite was off 23 points, to 2,428.03, and the S&P 500 was down 9 points to 1421.
Crude oil futures were recently trading 33 cents higher, to $52.32 a barrel.
Below are the complete poll results.
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| Date | Bullish | Bearish | Neutral | Week Ending S&P % Change |
Bullish Sector |
Bearish Sector |
| Jan. 22 | 582 (40%) | 357 (24%) | 520 (36%) |  |
Energy Equipment & Services | Semis, Semi Equipment |
| Jan. 16 | 767 (64%) | 193 (16%) | 240 (20%) | - 0.03% | Integrated Oil | Integrated Oil |
| Jan. 8 | 953 (46%) | 549 (26%) | 569 (27%) | + 1.5% | Biotechnology | Integrated Oil |
| Jan. 3 | 543 (54%) | 186 (18%) | 276 (27%) | + 0.6% | Precious Metals | Homebuilding |
| Sector | Total Votes | Percentage |
| Aerospace and Defense | 71 | 5% |
| Airlines | 51 | 3% |
| Automobiles | 10 | 1% |
| Beverages and Food Products | 32 | 2% |
| Biotechnology | 104 | 7% |
| Commercial Banks | 86 | 6% |
| Computers and Peripherals | 35 | 2% |
| Consumer Nondurables | 28 | 2% |
| Energy Equipment & Services | 221 | 15% |
| HMOs and Hospitals | 17 | 1% |
| Homebuilding | 42 | 3% |
| Insurance | 20 | 1% |
| Integrated Oil | 190 | 13% |
| Internet, Software Services | 54 | 4% |
| Investment Bankers and Brokers | 74 | 5% |
| Media | 13 | 1% |
| Multiline Retail | 23 | 2% |
| Pharmaceuticals | 101 | 7% |
| Precious Metals | 77 | 5% |
| Semis, Semi Equipment | 29 | 2% |
| Telecom Equipment | 46 | 3% |
| Tobacco and Alcohol | 44 | 3% |
| Utilities | 56 | 4% |
| Wireless Communications | 34 | 2% |
| Source: RealMoney.com | ||
| Sector | Total Votes | Percentage |
| Aerospace and Defense | 25 | 2% |
| Airlines | 101 | 7% |
| Automobiles | 70 | 5% |
| Beverages and Food Products | 14 | 1% |
| Biotechnology | 27 | 2% |
| Commercial Banks | 35 | 2% |
| Computers and Peripherals | 106 | 7% |
| Consumer Nondurables | 19 | 1% |
| Energy Equipment & Services | 65 | 4% |
| HMOs and Hospitals | 14 | 1% |
| Homebuilding | 130 | 9% |
| Insurance | 14 | 1% |
| Integrated Oil | 164 | 11% |
| Internet, Software Services | 90 | 6% |
| Investment Bankers and Brokers | 20 | 1% |
| Media | 24 | 2% |
| Multiline Retail | 52 | 4% |
| Pharmaceuticals | 42 | 3% |
| Precious Metals | 56 | 4% |
| Semis, Semi Equipment | 225 | 15% |
| Telecom Equipment | 73 | 5% |
| Tobacco and Alcohol | 18 | 1% |
| Utilities | 24 | 2% |
| Wireless Communications | 45 | 3% |
| Source: RealMoney.com | ||