Cash levels rose again last week. Are we too bearish?
Top 50 is showing only about 22% allocation to stocks, with cash levels dipping modestly.
The Total Tracker saw cash levels rise, in this case for the third consecutive week.
The Top 15 appear to be the most bullish of the three charts as stock allocations are over 60%.
Futures are moderately higher this evening, but it's too early to really know how we open. I still think we gap up at the start and at some point begin to see selling pressure take over. If this is a bear market, Friday's gains won't sit on the table long.
Top 50 is showing only about 22% allocation to stocks, with cash levels dipping modestly.
The Total Tracker saw cash levels rise, in this case for the third consecutive week.
The Top 15 appear to be the most bullish of the three charts as stock allocations are over 60%.
Futures are moderately higher this evening, but it's too early to really know how we open. I still think we gap up at the start and at some point begin to see selling pressure take over. If this is a bear market, Friday's gains won't sit on the table long.
