II Bulls At New Recovery Lows

The bulls in the Investors Intelligence survey are at lows not seen since before the March 2009 lows. I am assuming the ranks of bulls further thinned in the past couple of days and is likely not yet reflected in the number.


Chaos! said...

The July 14th bull count was lower, but I agree this weeks action should give us a lower number. Would like to see bears outnumber bulls. Thay would give us a sustainable up move.

Tsachy Mishal said...

There is a similar dynamic at Rydex. Longs are about as low as they get. But shorts are not at an extreme.

Overall the Rydex ratio is pretty extreme though, which measures longs/shorts.

Tsachy Mishal said...

Sometimes it takes a bounce to get the shorts involved.