A Bad Sign

[tsptalk]

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One of my favorite indicators, the AAII investor sentiment survey, came out today. I don't like what I see. 64% bulls, 14% bears. Both show way too much optimism. This could be a negative for the market as we are seeing today.

The overbought/oversold indicator is still oversold. The conflicting indicators are making it tough to make a good short term call on the market.

 

[smine]

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And we're doing what in the next 10 minutes?

 

[highplains]

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9 minutes!

 

[smine]

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Oh well. We're in......hope the market complies!

 

[tsptalk]

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Oh, sorry smine. I wasn't planning on making a move.:zz I should have said that in my earlier post.

 

[tsptalk]

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For an oversold market, there doesn't seem to be much excitement to buy today. Small caps and tech stocks are doing OK. The McDonald's is one of the culprits holding the Dow down as the CEO died of a heart attack. It would almost seem disrespectful for a stock to go up after the person in charge dies.

Earnings reportshave been good today for the most part today. Let's see what the "smart money" does in the last hour.