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29-Jun-09
More Fear Means Improved Outlook
The weakness last Monday shook a lot of people up. Odd lot investors actually shifted to the sell side for a couple of days last week, a very unusual occurence in any kind of market. This chart shows the put/call ratio which has also increased recently and has turned neutral from previous bearish readings. Other indicators improved as well.
I don't want to overstate a bullish case when, in fact, I only have one indicator that is modestly bullish and two that are still bearish. Given my neutral long-term market stance, my optimal cash position is still around 50 - 60%. Still, that is still a little lower than my current 67% cash. I will be looking to reduce that cash if I can find appropriate stocks to buy this week.
Posted at 12:21 in Market Report | Permalink | Top
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