Bearish Sentiment of Newsletters Lowest Since 1987
Newsletter writers are the least bearish on the prospects for the stock market than they’ve been since April 1987.
Investors Intelligence tracks the opinions of 140 newsletters and only 15.6 percent indicate they’re currently bearish. In October 2008, during the financial crisis, this figure was 54.4 percent.
SMA Comment: It appears most newsletter writers don’t pay much credence to the notion of a double dip recession, which means it’s probably going to happen.