Running of the Bulls...For the Hills

Just a week after going 'all in' on the market, bullish sentiment among investment advisors had the second largest weekly drop since the bull market began in March 2009.  Our contention has been that even when bullish sentiment is high, investors have little conviction and are quick to give up on the market.  This week's drop in bullish sentiment just reinforces that view.  The only other week where bullish sentiment saw a larger weekly drop was at the end of January (-12.4%), towards the end of that correction.  When the going gets tough, the bulls go running...for the hills.  This market is still climbing a steep wall of worry.

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