Richard Russell, "I’ve never seen sentiment change so quickly after an horrendous drop in the market"

By on May 6, 2009

Richard Russell, editor of Dow Theory Letters, is skeptical of this rally according to Mark Hulbert. Russell thinks bullishness has risen too rapidly. The ratio of bullish investors, according to the American Association of Individual Investors (AAII), has jumped 24.1 percent since March 9. This quick of a jump is more typical of bear market rallies, rather than the dawn of a new bull market. The first 8 weeks of a typical bull market have seen a jump of 9.8 percent.


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