"Sentiment among American investors slid 5.9 percent to 43.5. Readings below 50 indicate that users expect stocks to decline in the next six months.
The survey followed the S&P 500’s first two-week decline since July, spurred by manufacturing that expanded less than anticipated and unemployment that climbed to a 26-year high. Disappointing housing and durable-goods reports also heightened speculation that the biggest rally in equities since the 1930s has outpaced the prospects for an economic rebound."
I have some bearish positions that will probably need to be covered today. This is not really unexpected and I will continue to poke this pig going forward. This will end, and more and more it looks, unfortunately, like the 1930's model. Momentum, fueled by dumb money, ends when it ends. Dumb money missed the bottom, missed the meat of the rally and is pouring in now that it is seemingly okay to invest in stocks again. How do you think that's going to work out beyond the blow off?
