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.

3 comments:

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.