Bullish Sentiment In the Red Zone

Market Timing Signals
S&P500, Bonds and Gold
=> ST SELL SIGNAL<=
as of 12/15/10

-------- Original Message --------

Subject:	Bullish Sentiment In the Red Zone
Date:	Thu, 16 Dec 2010 09:49:13 -0800
From:	Jas Jain

Bullish Sentiment In the Red Zone
David Rosenberg; 12/16/10:
"…we see that the just-released Investors Intelligence Poll shows the bull camp expanding to 56.8% from 56.2% last week, while the bear share dwindling to 20.5% from 21.3%. The bull-bear spread has widened out to 36.3 and is within striking distance of the 42.4 all-time high posted in October 2007. We are not there yet, but keep in mind that all-time high in sentiment coincided with the all-time high in the S&P 500, which is why extreme levels are to be sold, not bought. In addition, while the bull-bear spread is not yet at 42.4, bullish sentiment on equities is very high, which means that the upside from here is limited since the masses have seemingly "bought into" the consensus optimistic view of sustainable policy-led economic growth."
Pl. see the attached graph.
Jas

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