Zeev's Turnips Patch-No Politics (ZEEV)

[Ace Hanlon]

Playing the devil's (bullish)advocate here I must point out two bullish factors.

John Hussman reports that specialist short sales as a percent of total NYSE short sales have posted their lowest reading since 1996.

Second is the big drop in credit spreads on corporate bonds in general and junk bonds in particular Junk bond defaults have dropped sharply in recent months signalling declining credit stress among issuers.

Now I happen to think that these are substantially outweighed by the many bearish factors we are all familiar with. But we bears must remain alert for signs of change.