Investment newsletters REALLY bearish — time to buy?
Wow! Expectations that U.S. stocks will drop at least 10% has risen to the highest levels since April 1984. In a recent survey of investment newsletters by Investors Intelligence, Bloomberg reports that:
Time to buy?The following are results from Investors Intelligence’s analysis of investment newsletters for Jan. 27 through yesterday. The company determines the proportion of writers who are bullish and bearish on U.S. stocks, as well as the percentage who anticipate a correction, or 10 percent decline, in the market. This Week Prior Week Comments Bullish 38.9% 40.0% Lowest since July 21 Bearish 22.2% 23.3% Lowest in two weeks Correction 38.9% 36.7% Highest since April 1984