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Friday, June 13, 2003 9:53:09 AM
Chart of the Day
With stock prices well off their year 2000 highs, you would think that the prevailing mood on Wall Street would be somewhat pessimistic. According to today's chart of investment advisor sentiment, however, the mood remains extremely optimistic. If you accept the theory that pessimists are potential buyers and optimists are potential sellers, then the current percent bull reading of 68.5% suggests that stock prices remain vulnerable. Stay tuned...
Notes:
- Red arrows occur when percent bulls peaks above 65%.
- Green arrows occur when percent bulls bottoms below 35%.
- Green & white arrows occur when percent bulls bottoms below 55% (from 1996-present).
- Percent bulls equals the 4-week moving average of the number of bullish advisors divided by bullish plus bearish advisors.
With stock prices well off their year 2000 highs, you would think that the prevailing mood on Wall Street would be somewhat pessimistic. According to today's chart of investment advisor sentiment, however, the mood remains extremely optimistic. If you accept the theory that pessimists are potential buyers and optimists are potential sellers, then the current percent bull reading of 68.5% suggests that stock prices remain vulnerable. Stay tuned...
Notes:
- Red arrows occur when percent bulls peaks above 65%.
- Green arrows occur when percent bulls bottoms below 35%.
- Green & white arrows occur when percent bulls bottoms below 55% (from 1996-present).
- Percent bulls equals the 4-week moving average of the number of bullish advisors divided by bullish plus bearish advisors.
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