The bullish sentiment continues...
Blogger Sentiment Poll Participants:
24/7 Wall Street (-) Abnormal Returns Ant & Sons Alpha Trends Big Picture Bloggin' Wall Street Capital Chronicle Carl Futia (+) Confused Capitalist ContraHour Controlled Greed Crossing Wall Street Crowder Blog CXO Advisory (+) Fly on the Wall Dash of Insight (-) Day Trade Team Daily Dose of Optimism (+) Daily Options Report Deal Breaker Dr. John Rutledge Elliot Wave Lives On (N) Fallond Stock Picks (+) Fickle Trader Fresh Trader Global Economic Analysis Hedgefolios Information Arbitrage (+) In The Money Daily Blog Watch Jack Stevison Kirk Report Knight Trader (-) Learning Curve MaoXian ChrisPerruna.com Michael Comeau Millionaire Now (N) Naked Shorts (-) Peridot Capitalist Quant Investor (+) Random Roger's Big Picture (-) SeekingAlpha SelfInvestors Shark Report (+) Sigma Options Stock Advisors ShadowTrader Tech Trader Daily Trade King Trader Feed Trader Tim Traders-Talk (+) Ugly Chart Wall Street Folly WindRiver Blog Wishing Wealth (-)
The market has come a long way, so it may be ready for a test or worse, but there's some indication that we had enough pessimism for a good low.
Traders-talk.com's message board polls had a lot of confident Bearishness, and much more importantly HAS had more for some time. That's usually a set up for a turn.
Note, these guys tend to be right, near term, and especially (and rather impressively) at important turns, but when they get leaning too far, for too long, they're like every other trading demographic.
Here's a chart of the 5-day SMA of Fully Long Bulls/Fully Short Bears.
http://www.traders-talk.com/mb2/index.php?showtopic=75071
Posted by: Mark Young | August 20, 2007 at 09:58 AM