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April 07, 2005
Advisor Sentiment
Mark Hulbert of CBS MarketWatch reports there is “no rah-rah for this rally”. The Hulbert Stock Newsletter Sentiment Index finished at –4.1% on Thursday and the letters are “net short the stock market”. Hulbert goes on to say that the –4.1% reading alone is not a big deal. What is a big deal is the fact that it moved from –1% to –4.1% when the market rallied over the last four days. Bullish sentiment usually rises on market advances and this decline shows skepticism. The chart from VTOReport.com shows that bullish sentiment peaked at the end of December and declined the last 3 months.
Posted by Arthur B. Hill at April 7, 2005 03:48 PM