Thursday, July 7, 2011
Here comes the dumb... money, that is
Per the always useful Sentimentrader.com, we find that as of yesterday, aggregate 'dumb' money is becoming more bullish on the broad markets. As noted in the NFTRH 'notes' edition last weekend, the brute force (impulsiveness, momentum, etc.) of the rally implies that there could be staying power measured in weeks, not days. Sentiment sprung the rally as dumb money was very bearish. Now? Not so much. This money will get more bullish the longer the rally lasts, and that ain't gonna be bullish.