DEAD BULL
I have recently switched away from CNBC to Bloomberg as I find there interviews better and the folks they interview better and less celeb type. Just about all of them are now bearish and expecting declines to last for up to 18 months. Not sure if this is a great contra indicator but I have heard worse.
David Winters, who used to run some of the Mutual Series funds and now has his own fund, is upcoming on Bloomberg and I am very curious to hear his take as I find him to be one of the best.
The market internals started today being 2k red improved to 1k green went back to 2k red and are now at 1k red so if you like volatility in your markets, today is one of your days.
The OIH is also all over the board today along with the major market indexes as it hovers between down 3 and up 2. It is still fairly early in the day and I have no idea if the arrow will land on red or green.
Volatility indexes are fairly flat and the VIX/VXO duo is currently trading at a bit under 120% of their 10 day SMA.
Metals are crushed, oils are now higher, small caps are outperforming, semis have been up most of the day and most of the DJIA components (19) are higher. INTC and MRK are the DJIA leaders and MO and DIS are the biggest DJIA losers on the day.
posted by DAVID at
11:56 AM
2 Comments:
David,
RE: you wrote "...Not sure if this is a great contra indicator but I have heard worse..."
that's a short term change in consensus, so it might be a good short-term contra indicator (I think it will be starting next week)...but long-term it's a terrible contra signal. The long-term view consensus just changed recently from strongly bullish, so no, no, no...it can't be used as a contra indicator for a long-term view. Bearish long-term sentiment is only starting to build...IMHO. When it gets extreme to the max, there is your reliable contra signal.
I don't know about you, but I find the concept of contra signals to be widely misunderstood in the financial media and to a lesser extent among market professional too.
BTW, just discovered your blog...I think I like it...keep up the good work.
--Glenn
Thank you for your support who has read our article. I'm very happy if you can share our article below
Cara menyembuhkan infeksi lambung dengan ramuan tradisional
Cara Alami Untuk Mengobati Mukokel
Obat penurun darah tinggi paling ampuh
Cara Cepat Untuk Mengeringkan Luka Bakar
Cara Alami Untuk Mengobati Ruam pada Kulit Bayi
Obat Radang Lambung
Pengobatan Flek Paru-paru
Pengobatan konjungtivitis paling ampuh
Post a Comment
Subscribe to Post Comments [Atom]
<< Home