It took them more than three months, but the bears finally found a way to capture sentiment in TheStreet.com RealMoney Barometer survey.
The bears got 571, or 43%, of the 1,327 votes cast, the first time since March 19 that they were the predominant sentiment. The bulls countered with 31%, or 412 votes. Neutral was the outlook of 344 people, or 26%.
In the sectors, there was a slight change. Integrated oil was seen as most likely to rise this week, replacing energy equipment and services.
That said, crude oil was down sharply on Monday. Light, sweet crude for August delivery was recently trading down 81 cents on the Nymex, to $68.33 a barrel.
Homebuilding, as it has been for months, was the sector picked as most likely to fall. Housing took another hit today with word that
inventories of existing homes were at their highest level since 1992.
The sentiment in the poll this week seems to mirror what happened on Wall Street last week.
having to bail out two hedge funds connected to subprime lending jolted the market last week.
Dow Jones Industrial Average
fell 1.4% or 185 points Friday to close at 13,360.26, down 2% on the week. The
finished down 1.3% Friday to close at 1502.56, off 1.9% for the week, while the
finished down 1.1% Friday to close at 2588.96, 1.4% lower on the week.
On Monday, though, as they have quite frequently this year, the major averages were bouncing back after a bad day. The Dow was trading at 13,459.19, up 99 points, or 0.74%. The
was trading at 2598.70, up about 10 points, 0.38%. The S&P 500 was at 1510.75, 8 points, or 0.55%.
In the Treasury market, the 10-year note was up 7/32 in price, yielding 5.10%, and the 30-year bond was adding 13/32 in price to yield 5.22%.
Below are the complete poll results.
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;
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