Wednesday, August 26, 2009

Bulls get more giddy and bears go into further hibernation

Bulls get more giddy and bears go into further hibernation: "

Stock market bullishness has reached a new high in this run from the March lows as measured by the weekly II survey of newsletter writers. Bulls rose to 51.6 from 48.3 last week and that is the highest since Dec ‘07 while Bears fell to 19.8 from 23.1, the lowest since Oct ‘07. This contrarian indicator in no way marks an imminent change in direction as the bulls can be right for a period of time as they typically are in bull market moves.


"
Post a Comment