Where Are The Newsletter Bears?
(Source: BeSpoke Investment Group, August 26) Also see “U.S. Stock Pessimism Drops to Lowest Since 2007, Survey Finds”, Bloomberg, August 26 (via The Big Picture)
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The Shorts Have Capitulated
(Source: “Missing In Action: Short Sellers”, BeSpoke Investment Group, August 26) This is bearish because there is not much potential buy to cover demand to push up shares and there is a lot of room for more shorts to enter…
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Top Gun FP Client Note: Extreme Sentiment Often Predicts Market Reversals
NOTE: Every week I write a Client Note for my clients. For a limited time, I am allowing non-clients to sign up and receive the Client Note. You can sign up at the top right hand corner of the website. …
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Fannie And Freddie Shares Soar Despite Likely Having No Equity Value
It’s very hard to come up with scenarios where they’re worth any money. There’s a tremendous amount of sentiment trading in general. – Bose George, Analyst, Keefe, Bruyette & Woods (Source: “Fannie, Freddie Shares Soar, Puzzling Analysts: Stocks Considered To…
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Santoli: Don’t Overthink The Rally
EVERYONE SEEMS TO BE INSPECTING THE TEETH and gums of this galloping rally, searching for signs of rot and vulnerability. Haven’t the riskiest stocks led? Aren’t stocks pricing in fundamental improvement not yet evident? Weren’t all those earnings beats from…
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Fund Manager Bullishness at Highest Level In Six Years
Merrill Lynch yesterday released their August Survey of Fund Managers titled “Merrill Lynch Fund Manager Survey Finds Economic Optimism Highest Since 2003 as Investors Put Cash to Work”. Here are some highlights: A net 75% of respondents believe the world…
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A Consensus Among Economists: The Recession Is Over
26 of 45 economists who responded to a WSJ survey question conducted over the last few days said the recession is already over. Another 12 believe it will end this month (August) or next. Another 6 believe it will end by the…
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Top Gun FP Client Note: The Forest And The Trees
NOTE: Every week I write a Client Note for my clients. For a limited time, I am allowing non-clients to sign up and receive the Client Note. You can sign up at the top right hand corner of the website. …
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Bearish Newsletter Writer Turns Short Term Bullish
I feel the mantra from even cautious money managers has become ‘Don’t ask questions as to what or why, just vote yea and join the fray.’ And I am about to do that. Waiting for a prudent entry point in…
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Dennis Gartman: The Recession Is Over
We saw it happen two weeks ago – it’s over. – Dennis Gartman in a recent interview, quoted in “Recession is over, says economist”, Fortune, August 6