Trying to work it out
It's a traffic jam of the brain
Makes you want to scream and shout
--Sly Fox
As US equity indexes mark more new highs, sentiment predictably gets more lopsided. The Investors Intelligence newsletter survey captures the optimism:
In fact, the difference between II bulls and bears has never been higher:
The log periodic bubble model appears to be playing to completion in a buying panic.
Risk is high.
position in SPX
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Money, again, has often been a cause of the delusion of the multitudes. Sober nations have all at once become desperate gamblers, and risked almost their existence upon the turn of a piece of paper.
~Charles Mackay
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