I fully expected to be barraged by an overwhelming negative sentiment for equities. I expected to see report after report that would be extremely bearish for equities. While I see many of those reports, I see an almost equal number of bullish reports and that, quite frankly, surprised me.
As a contrarian by nature, I would be more optimistic that we have bottomed in stocks if the sentiment was dire.
There are 5 key areas where I find the sentiment to be less bearish or even bullish than I would like
- By Many Technical Indicators the Market is Not Oversold
- Wall Street’s View of Retail Sentiment and Action May Just Be Wrong
- Old Media versus New Media
- Excuses not Reasons
- Bottom Calling and Capitulation
This report is very anecdotal in nature, but I feel compelled to write it, because I was surprised by how balanced the sentiment was (especially since my inclination is to be bullish equities here as well).