S&P500 vs AAII Bullish Index

Friday, July 11, 2008 | 11:00 AM

My pal Mike Panzner sends along this chart showing that we are getting to an extreme in sentiment:


Chart courtesy of Mike Panzner's Armageddonomics


That suggests a bounce, and I cannot say I disagree. Where I may be more circumspect then some of my more bullish brethren is what you should do with that bounce . . .   


UPDATE: July 11, 2008 1:04pm

Here's the UoM Sentiment read:



Friday, July 11, 2008 | 11:00 AM | Permalink | Comments (25) | TrackBack (0)
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This indicator has failed the last couple of times, unless your horizon is days, not weeks. It also is a survey. I use Total Put/Call as a sentiment indicator based on actual money being put down. When the 10 day MA gets near 1.25, you can start covering shorts, IMO. Could take a few weeks. Don't go long however...just cover temporarily.

Posted by: Steve Barry | Jul 11, 2008 11:09:29 AM

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