We based this forecast on our research showing that sentiment usually peaks or bottoms well before the actual price top or low, giving way to a bearish or bullish divergence similar to momentum measures of the market.
Also, we can say that a key reason behind the bearish trend in 2002 was the net selling of stocks by investors from overseas.
Some market analysts said the timing for the launch of the SME board is poor given the current bearish sentiment towards equities.
More bearish commentators fear that Bush's ‘War Against Terrorism’ could become an endless struggle that may come back to haunt markets at any stage in the future.
‘Fundamentals right now are bearish ,’ he said.
We also sought the views of an economist, who agreed to speak to us anonymously as he is bearish on stock markets.
Analysts fear retaliation if they are bearish .
Yet many fund managers are turning bearish on Hong Kong precisely because of its vulnerability to U.S. interest rates.
Scott's view, and that of other similarly bearish fund managers, calls into question the widely held belief that equity markets have shrugged off the effect of last week's terror threat.
Given enough time, the most bullish of bulls and the most bearish of bears will all have their day in the sun.