A diary of the thought process behind my investment decisions
More Red Flags
The Bulls in the Investors Intelligence survey this morning came in at 51.5%, pretty close to their January levels.
At midday the CBOE equity only put/call is at levels not seen in over five years.
The market has been registering extreme readings for a few weeks now and the tendency is to ignore them at this point because they have not worked. I believe that is a mistake. This time is not different.