Ram, the AAII is what people say, the tic, trin, Vix and VXN as well as the P/C ratios are what people do, last week, all these have gone to extreme, until these numbers get to the other extreme, I would not worry too much about what people say but what they do. The tic above 1000 (plus) today is the best sign that confidence in the market is coming back( a psychological shift). I would not want to see more than two or three such days (overconfidence), but that reading fortifies my current bullish stance.
You people forget that liquidity shortage is not what is ailing this market, the MZM is probably some 15% higher than it was just a year ago, that is a huge source of liquidity (apart of all the money the feds have been pumping into the system). What we needed to shift the tide, was capitulation and we got it, in spades, period.
Zeev |
