Survey of Newsletter Editors Shows Bullish Sentiment at 3-Year High
Tweet
Share
E-mail
With stocks officially recovering all the loses since the unforgettable collapse of Lehman Brothers yesterday, a survey of investor sentiment issued by Investors Intelligence today is suggesting record levels of bulls.
The report, a weekly check of the sentiment of newsletter editors, shows a that about 58.8% of respondents are now bullish, a level not seen since 2007. This week's survey marks a rather sharp rise in the number of bulls, from 56.8% during the prior week. Notably, Investors Intelligence said that the bullish sentiment was as low as 29.4% at the end of August.
On the other side of the trade, the research group showed that outright bearish sentiment was about flat from the prior week at 20.6%. This indicator reached as high as 37.7% during the summer.
The Dow Jones Industrial Average has rallied nearly 5% during December; the S&P 500 is up almost 7% over the same span. The question is: will this Santa Claus rally be able to continue as we head into 2011, or is all this market-wide bullishness suggesting what a contrarian would consider a top?
The report, a weekly check of the sentiment of newsletter editors, shows a that about 58.8% of respondents are now bullish, a level not seen since 2007. This week's survey marks a rather sharp rise in the number of bulls, from 56.8% during the prior week. Notably, Investors Intelligence said that the bullish sentiment was as low as 29.4% at the end of August.
On the other side of the trade, the research group showed that outright bearish sentiment was about flat from the prior week at 20.6%. This indicator reached as high as 37.7% during the summer.
The Dow Jones Industrial Average has rallied nearly 5% during December; the S&P 500 is up almost 7% over the same span. The question is: will this Santa Claus rally be able to continue as we head into 2011, or is all this market-wide bullishness suggesting what a contrarian would consider a top?
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- EQT And KKKR Said Among Firms Considering Bids For Qiagen - Bloomberg
- BofA's Hartnett sees dollar slump, risk selloff if bond intervention fails
- Klarna (KLAR) Reiterated at Market Perform by Citizens Amid Volume Headwinds
Create E-mail Alert Related Categories
Insiders' Blog, Trader TalkRelated Entities
Lehman Brothers, Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
