Howdy folks, and a happy last-day-of-the-decade to you. I've been doing foot exercises to give 2009 a firm kick in the butt as it goes out the door tonight.
The folks over at Elliott Wave International posted a compelling pair fascinating sentiment charts in their Short Term Update last night. The percentage of bears has reached levels not seen since Ronald Reagan was still in office and before the crash of 1987. In other words, there are fewer bears now than there were when the Dow was over 14,000! I feel our corner of the universe is becoming one of the last bastions of bearishness.
Just to drive the point home, they also show the bull/bear ratio, which also is at almost unthinkable levels. Simply stated, virtually everyone in the country is in the bullish camp.
I'm looking forward to next year. A lot.
The Slope of Hope. Vox Clamantis in Deserto.
