Investors Intelligence weekly sentiment poll generates an
interesting data trail for contrarians: The bull to bear ratio quickly highlights excesses of sentiment.
Source: Decision Point
Since the bull market began in Oct 2002, the chart indicates
that bull/bear ratio readings greater than 3.0 have signaled excess bullishness. That suggests medium-term price reversal
and/or a consolidation over the next few weeks.
UPDATE: JULY 18, 2005 2:35pm
Decision point discovered their chart contained a a bad data point; DIsregard this chart . . .
Quote of the Day:
"We pay the debts of the last
generation by issuing bonds payable by the next generation."
-Lawrence J. Peter