We have seen extreme bearishness in the AAII sentiment survey and now it seems that the newsletter people have reached a similar bearish extreme.
It is time to buy people!
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I think the Market will have short rallies…but, all and all,Mr. Market will be heading down for a while. Listen to what Jim Rogers said back in Feb. 2008,Wow! This guy was right on the money about Bear Stearns. YOU TUBE… Jim Rogers, FED cuts will hurt Dollar, Yuan Up - Feb. 2008
I agree this survey tends to conicide with bottoms but they don’t always immediately signal a bottom. It might be another month or two before this signal become relevant.
What do you really want to buy here? What is there to buy? Just curious. I think the best course of action right here is to do nothing on either side of the market until this mess works its way out. I don’t know that I’ve given up being a bear - I think being an ambivalent observer of things is probably best right now. Unless you are a daytrader. Just my opinion.
Hey Mac,
I left my response as a post. I agree that if your style is pure Canslim, stay in cash. I can’t wait until we start seeing some high-quality breakouts out of sound bases. We are going to make some serious cash!!!
Good luck