Thursday, September 23, 2010

AAII Sentiment Survey

September 23: 44.97% 29.63% 25.40%
September 16: 50.89% 24.85% 24.26%

The market got a little less bullish this week but given the still high bullish/low bearish ratio, odds favor a significant pullback. Fundamentally speaking I am not so sure why anyone would be bullish right now. We have a persistent unemployment problem, a double dip in housing in progress and under 2% GDP growth. The fundamental barometer for stock prices is profits and I am not sure where are they going to come from without any sort of stimulus or an upswing in the economy. With that said, I am not going to fight the charts.. I'll go wherever the wind blows.

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