- The American Association of Individual Investors survey is showing the largest number of bears in the 25 year history of the survey (over 70%).
- The stock market is on the front page of every major newspaper and is the lead in on the nightly news.
- High quality stocks are paying twice the dividend yield of 10 year treasuries.
- Some clown got on CNBC yesterday and said that shorting was a no risk strategy.
I continue to be of the belief that this market decline should be bought into. However, it is important to buy into high quality companies with solid balance sheets. I am coming to the realization that this decline might need to end with a bang. While I am not looking forward to it, I am ready for it. While one would have had to be in a fallout shelter for the past year to be surprised by the unemployment report, it just might serve as that catalyst.