How ever shall we interpret this?
“Will the Dow fall to 5000? We don’t think so. Here’s why.”
This is a Barron’s pattern — the illustration reflects recent market action (and therefore sentiment) while the copy “spins it forward.”
Some have contended Barron’s — like the Economist — is too narrow in scope and readership for good contra-cover analysis.
And as Mike Santoli has pointed out in the past, fading all the doomsday covers the Economist has had in the past year would have hurt.
On a related note, recent AAII sentiment readings are literally off the charts (was 1990 really so bad?) :
Ouch! That Hurt
BARRON’S SATURDAY, MARCH 7, 2009