The Investors Intelligence bears generally fall to roughly 20% at major market peaks. The Investors Intelligence bears now sit at 28.7%. At the last two major peaks they got as low as 16%.
There are plenty of imbalances in world economies so its possible that we see a systemic event. Barring a systemic event its unlikely that we are seeing a sentiment induced major top. That does not mean we cannot correct.
8 comments:
What do u think about RSH? Is it under valued compare to its cash flow and divident?
I like that NAAIM chart. I should follow that. Do they announce their numbers weekly? If so, where?
They announce weekly. I provided the link where it says From NAAIM
Like BBY, RSH seems undervalued compared to cash flow. The question is if the cash flow is sustainable given the secular headwinds of competition from online shopping. Too hard for me.
Amazon doesn't seems to be making money either on line. If on line store save on rent, aren't they have shipping cost? What happens if shipping cost go higher in comming years along with higher fuel price.
Its difficult for me to imagine a scenario where owning a retail store is cheaper than shipping except on heavy or large products. RSH sells expensive little cables. Also, the fact that many things are going wireless is a headwind for RSH. Less cables.
[...] bullish. In the past this has meant that the gains have been harder to come by at a minimum. I outlined yesterday why the NAAIM and II survey made me feel better about the market. The Investors Intelligence bears [...]
[...] nearly 25% since the October low. This type of advance is usually enough to get everybody bullish. I have spoken recently about the NAAIM survey and the Investors Intelligence survey not showing the type of bullishness [...]
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