Posted on 02/11/2010 11:09:33 AM PST by blam
Bullish Sentiment Plummets To Levels Not Seen Since March '09
Vince Veneziani
Feb. 11, 2010, 12:44 PM
If you've been feeling bearish lately, you're not alone: bullish sentiment is falling both hard and fast.
According to Bespoke Investment Group, newsletter writers haven't been this bearish in ages.
Bespoke: Although the S&P 500 is down less than 7.5% from its January high, bulls are heading for the hills. According to Investors Intelligence, bullish sentiment among newsletter writers is currently at 34.1%, which is the lowest level since March 2009.
At the same time, bearish sentiment (26.1%) is the highest since November, while the percentage of newsletter writers in the correction camp has sky-rocketed all the way to 39.8%, which is a level that hasn't been seen since 1983.
[snip]
(Excerpt) Read more at businessinsider.com ...
Thanks for posting the chart. This and a handful of other indicators are encouraging.
Encouraging for the short term I should have said.
“This and a handful of other indicators are encouraging.”
That’s my read too.
I believe at these prices your bullish indicator should turn. Notice that its descent tracks nicely with the 700 DOW point spill we just went through. BTW, I attribute a good measure of that sell-off to Bammy’s tantrums after the MA vote. Nobody wants to risk money with a man-child running around a demonizing industry while whinning about jobs. Scary.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.